Iran Warns Oil Could Hit 200 Dollars a Barrel

Iran has warned that global oil prices could surge dramatically as tensions in the Middle East continue to escalate. Ebrahim Zolfaghari, spokesman for Iran’s Joint Chiefs of Staff, said the international community should prepare for the possibility of crude reaching USD 200 per barrel. Addressing the United States and Israel, he argued that instability in the region is directly linked to the security situation they have helped create. ...