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Iran tells world to get ready for oil at $200 a barrel as it fires on merchant ships - Reuters

What happened

An armed conflict between the US and Iran has entered its third week, with Iran closing the Strait of Hormuz and targeting merchant ships while oil prices surge toward $105 per barrel. President Trump has called on NATO allies and China to help reopen the critical shipping route, but European countries have declined. Iran has warned of oil reaching $200 per barrel as the conflict disrupts global energy supplies.

Why people care
The Strait of Hormuz is a vital chokepoint through which roughly 20% of global oil supplies pass, making any disruption there a threat to the world economy. Iran's ability to weaponize energy markets by closing this waterway demonstrates how regional conflicts can quickly become global crises affecting fuel prices and supply chains worldwide.
The takes
European allies say

NATO countries and China are refusing Trump's calls to help police the Strait of Hormuz, effectively leaving the US to handle the situation alone. This reluctance suggests significant international skepticism about the conflict's origins and objectives, with allies unwilling to be drawn into what they may view as an avoidable confrontation.

Trump administration says

The president characterizes Iran as a "paper tiger" and continues pressing other nations to join efforts to reopen the strait, suggesting confidence that Iran can be pressured into backing down. The administration appears to believe that international pressure and military action can force Iran to cease its disruption of global oil flows.

Sources
Chaos Timeline
Mar 16 18:00 Mar 16 19:00
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