Oil hits $100 a barrel despite deal to release record amount of reserves
It comes as Iranian attacks on ships intensify in the crucial Strait of Hormuz waterway.
Coverage by Political Leaning
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Notable Quotes
"You will not be able to artificially lower the price of oil. Expect oil at $200 per barrel."
— Islamic Revolutionary Guard Corps (IRGC) spokesperson , Other
"The IEA's decision is historically significant but is only a temporary buffer."
— Martin Ma , Academic
"Iran would keep fighting and continue to use the Strait of Hormuz as leverage against the U.S. and Israel."
— Ayatollah Mojtaba Khamenei , Politician
"The war was 'very complete'."
— Donald Trump , Politician
Key People
Ayatollah Mojtaba Khamenei is Iran's Supreme Leader.
Former president of the United States known for his aggressive economic policies.
The spokesperson represents the IRGC, a branch of Iran's armed forces.
Martin Ma is associated with the Singapore Institute of Technology.
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All Coverage
It comes as Iranian attacks on ships intensify in the crucial Strait of Hormuz waterway.
Global stock markets fell sharply amid escalating concerns over the Iran war, which has driven oil prices back above $100 per barrel. Key European indices dropped between 0.7% and 1.2%, while major Asian markets also saw losses. The volatility follows increased geopolitical tensions after Iran’s new Supreme Leader vowed to keep fighting and leverage the strategically vital Strait of Hormuz against the U.S. and Israel.
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