Brief by Shorts91 Newsdesk / 12:05pm on 12 Mar 2026,Thursday International
Iran warned that global oil prices could surge as attacks on ships disrupt energy routes in the Gulf. An Iranian military spokesperson said the world should “get ready for oil to be $200 a barrel.” Three vessels were reported hit in Gulf waters on Wednesday. Iran’s Revolutionary Guards said they fired on ships that ignored their orders. Since the war began, at least 14 merchant ships have been damaged in the region. The conflict started nearly two weeks ago after US and Israeli strikes on Iran. Oil prices have already risen sharply, briefly nearing $120 a barrel earlier this week. The International Energy Agency has suggested releasing strategic reserves to calm markets. (PC: NDTV)
