Iran has alerted the global community to brace for oil prices that might soar to **$200 per barrel** amid rising tensions in the Middle East. Reports indicate that Iranian forces have targeted commercial vessels in the Gulf close to the vital **Strait of Hormuz**, which accounts for nearly **20% of the global oil supply**.<br /><br />With international energy markets already unsettled and oil prices recently nearing **$120 per barrel**, there is increasing concern over a significant disruption in supply. In light of this, the **International Energy Agency** is contemplating the largest release of strategic oil reserves ever to stabilize the markets.<br /><br />Should tensions persist and shipping through the Strait of Hormuz be impacted, the global economy may confront a serious energy crisis.<br /><br />Watch the complete video to grasp the implications for oil prices and the global economic landscape.
