Iran Warns Oil Could Reach $200 on Sanctions

(Reuters) – Global oil prices could hit $200 per barrel if the United States pursues international sanctions against Iran, an Iranian official said on Thursday, although analysts passed the comment off as saber rattling.

Iran’s Foreign Relations Vice Minister Manuchehr Mohammadi told Venezuelan state television, “The first consequence of these sanctions would be an increase in the price of oil to around $200 per barrel.”
Reuters