Iran warns world ) oil prices could double

Iran fired on Israel and targets throughout the Middle East on Wednesday, showing that it could still respond and destroy power supplies, despite what the Pentagon has described as the most intense attacks by the US and Israel so far.

Oil prices, which rose significantly earlier this week, have decreased slightly and stock markets have recovered, as investors are at the moment betting that US President Donald Trump will find a quick way to end the war he started with Israel nearly two weeks ago.

But so far there has been no decrease in field fighting, and there is no sign that ships can safely sail through the Strait of Hormuz, where about a fifth of the world's oil has been blocked behind a narrow channel along the Iranian coast, in the largest power supply break since the 1970s oil crises.

“Prepare for oil to go to $200 per barrel, because the price of oil depends on regional security, which you have destabilised,” said Ebrahim Zolqhar, spokesman of Iran's military command, in comments to the United States.

After the offices of a bank in Tehran were hit at night, Zolfaqari also said Iran would respond by attacking banks doing business with the United States or Israel. He added that people throughout the Middle East must stay 1,000m away from banks.