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

Iran said the world should be ready for oil at $200 a barrel as its forces hit merchant ships on Wednesday and the International Energy Agency recommended a massive release of strategic reserves to dampen one of the worst oil shocks since the 1970s.

The war unleashed with joint U.S. and Israeli air strikes nearly two weeks ago has so far killed around 2,000, mostly Iranians and Lebanese, as it has spread into Lebanon and thrown global energy markets and transport into chaos.

Despite...