By Sabiu Abdullahi
Iran’s Islamic Revolutionary Guard Corps (IRGC) has warned that no oil shipments will pass through the Strait of Hormuz as the conflict involving the United States and Israel continues to shake global energy markets.
A spokesperson for the IRGC’s Khatam al-Anbiya Headquarters said on Wednesday that the waterway would remain effectively closed. The official warned that vessels linked to the United States, Israel or their allies could face attack.
“You will not be able to artificially lower the price of oil. Expect oil at $200 per barrel,” the spokesperson said. “The price of oil depends on regional security, and you are the main source of insecurity in the region.”
The warning came as the war, which began on February 28, entered its second week with no sign of easing. The conflict has already caused major fluctuations in global oil prices.
Iran has launched missiles and drones at targets across the Middle East in response to continued attacks by the United States and Israel. The situation has raised fears of deeper disruption to global energy supplies.
The Strait of Hormuz is a vital maritime route for global energy trade. About one-fifth of the world’s oil passes through the narrow waterway. The closure has already slowed oil shipments and affected production in some Gulf countries.
Maritime security firms also reported fresh attacks in the area on Wednesday. Three vessels were struck by projectiles in the Strait of Hormuz. One of them was a Thai-flagged cargo ship that came under attack about 11 nautical miles north of Oman.
Despite the security concerns, U.S. President Donald Trump encouraged commercial vessels to continue using the route.
“I think they should,” Trump said when asked whether ships should keep passing through the strait.
“I think you’re going to see great safety, and it’s going to be very, very quickly,” he added.
Meanwhile, the United Nations warned that the disruption is also affecting humanitarian operations. UN aid chief Tom Fletcher called for special arrangements to allow relief supplies to pass through the strait.
“We’re appealing to all the parties to try and secure those routes, including the Strait of Hormuz, for our humanitarian traffic … so we can reach anyone, anywhere, on the basis of greatest need,” Fletcher said.
“We’re living through a moment right now of grave peril,” he added.
The ongoing disruption has pushed world leaders to consider emergency measures. Members of the Group of Seven and the European Union are reviewing steps to reduce the economic impact of the war.
On Wednesday, the International Energy Agency (IEA) announced that its 32 member countries had agreed to release 400 million barrels of oil from emergency reserves to stabilise the market.
“This is a major action aiming to alleviate the immediate impacts of the disruption in markets,” IEA Executive Director Fatih Birol said.
“But to be clear, the most important thing for a return to stable flows of oil and gas is the resumption of transit through the Strait of Hormuz,” he added.
Energy analysts warn that if shipping through the strait does not resume soon, the global economy could face a serious supply crisis.
Christian Bueger, a professor of international relations at the University of Copenhagen, said the shipping sector is already struggling to operate in the area.
“For the shipping industry right now, it’s impossible to go through the Strait of Hormuz,” he said.
“And if there are not stronger signals in the near future that they can at least try to go through the strait, then we are looking at a major shipping crisis, which can last weeks if not months.”
Several countries have already begun preparing for the disruption. Japan announced plans to release about 80 million barrels of oil from its national and private reserves. Germany and Austria also signalled that they would make part of their emergency reserves available.
Japanese Prime Minister Sanae Takaichi said the country would begin releasing the oil from Monday, noting that about 70 percent of Japan’s oil imports pass through the Strait of Hormuz.
