Iran controls the Strait of Hormuz and exports more oil than before the war, The Wall Street Journal reports. Since the beginning of the war, Iran has been shipping approximately 2.1 million barrels of oil per day through the Strait of Hormuz, slightly more than in February. Other Gulf countries have reduced exports, while Iran continues to sell mainly to Asia.
According to Reuters, Iran is warning the world that oil prices will surpass $200 per barrel following attacks on ships in the Persian Gulf. Iranian forces attacked several merchant ships in the blockaded Persian Gulf. According to the agency, 14 civilian ships have already been damaged since the beginning of the war. Tehran stressed that due to the escalation of the situation and the threat of cargo transportation through the Strait of Hormuz, the world price of oil should be prepared to rise to $200 per barrel.
According to Reuters, Iran has placed about 12 sea mines in the Strait of Hormuz, which threatens oil and liquefied gas export routes.
Donald Trump announced that the United States will release millions of barrels of oil from its strategic reserves, which will be needed to curb price increases. According to him, this could keep or even lower global oil prices.
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