Iran-Israel tension may spoil the oil game, prices may go up to $110! | How Iran Israel Tensions Could Spike Oil Prices To 110 Dollars Via Hormuz Strait

If the Strait of Hormuz is completely closed, it will bring global energy trade to a halt. In response, America can take naval action. Additionally, Iran’s own oil exports will also be affected, which could harm its economy.

The US President said that in accordance with the policy of the United States, especially his administration, the ‘terrorist regime of Iran’ can never be allowed to possess nuclear weapons amid the escalating Israel-Iran conflict.

In his video address, Trump described Iran as the world’s number one terrorist sponsor, saying the country killed thousands of its own citizens in the street over protests.

(With AFP inputs)

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