Iran said the world should be ready for oil at $200 a barrel as its forces hit merchant ships on Wednesday and the International Energy Agency recommended a massive release of strategic reserves to dampen one of the worst oil shocks since the 1970s, Reuters reported.
The war unleashed with joint U.S. and Israeli airstrikes nearly two weeks ago has so far killed around 2,000 people, mostly Iranians and Lebanese, as it has spread into Lebanon and thrown global energy ‌markets and transport into chaos.
Despite what the Pentagon has described as the most intense airstrikes since the start of the war, Iran also fired at Israel and targets across the Middle East on Wednesday, demonstrating it can still fight back, according to Reuters.
