World
Not ‘a litre of oil’ to pass Strait of Hormuz, expect $200 price tag: Iran
Warning comes as 400 million barrels of oil are being released from global reserves during waterway’s closure.
Published On 11 Mar 2026
Iran’s Islamic Revolutionary Guard Corps (IRGC) says it will not allow “a litre of oil” through the Strait of Hormuz as the closure of the key Gulf waterway continues to roil global energy markets during the US-Israeli war on Iran.
A spokesperson for the IRGC’s Khatam al-Anbiya Headquarters said on Wednesday that any vessel linked to the United States and Israel or their allies “will be considered a legitimate target”.
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“You will not be able to artificially lower the price of oil. Expect oil at $200 per barrel,” the spokesperson said in a statement. “The price of oil depends on regional security, and you are the main source of insecurity in the region.”
Global oil prices have fluctuated wildly this week during continued US-Israeli attacks against Iran, which has retaliated by firing missiles and drones at targets across the wider Middle East.
The closure of the Strait of Hormuz, through which about one-fifth of the world’s oil supplies transit, and production slowdowns in some Gulf countries have raised concerns of further disruptions.
Concerns around the duration of the war, which began on February 28 and has shown no sign of abating, are also adding to uncertainty, sending oil prices soaring.
On Wednesday, three ships were hit by projectiles in the Strait of Hormuz, maritime security and risk firms said, including a Thai-flagged cargo vessel that came under attack about 11 nautical miles (18km) north of Oman.
Release of oil reserves
World leaders, including members of the Group of Seven (G7) and the European Union, have been mulling what action to take in response to the war’s impact on global economies.
Christian Bueger, a professor of international relations at the University of Copenhagen and an expert in maritime security, said Europe will be facing “a major energy supply crisis” if the Strait of Hormuz is not reopened.
“For the shipping industry right now, it’s impossible to go through the Strait of Hormuz,” Bueger told Al Jazeera. “And if there are not stronger signals in the near future that they can at least try to go through the strait, then we are looking at a major shipping crisis, which can last weeks if not months.”
On Wednesday, the International Energy Agency (IEA) announced that its 32 member countries had unanimously agreed to release 400 million barrels of oil from their emergency reserves to try to lower prices.
“This is a major action aiming to alleviate the immediate impacts of the disruption in markets,” IEA Executive Director Fatih Birol said during an address from the agency’s headquarters in Paris.
“But to be clear, the most important thing for a return to stable flows of oil and gas is the resumption of transit through the Strait of Hormuz,” he added.
The reserve supplies will be made available “over a timeframe that is appropriate” for each member state, the IEA said in a statement without providing details.
German Economy and Energy Minister Katherina Reiche said earlier in the day that the country would comply with the release while Austria also said it would make part of its emergency oil reserve available and extend its national strategic gas reserve.
Meanwhile, Japan’s Ministry of Economy, Trade and Industry said it would release about 80 million barrels from its private and national oil reserves.
Japanese Prime Minister Sanae Takaichi said the country, which gets about 70 percent of its oil imports through the Strait of Hormuz, would begin releasing the reserves on Monday.
More than 1,600 rescue workers have arrived and 25 flights filled with aid will land over the next day in Venezuela after earthquakes devastated the country on Wednesday, according to Venezuela’s vice minister of foreign affairs, Oliver Blanco.
World
American rescue teams pull infant alive from rubble in Venezuela days after devastating twin earthquakes
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American search-and-rescue teams pulled an infant alive from beneath the rubble in Venezuela days after the country’s devastating earthquakes, the U.S. Department of State said Saturday.
The State Department shared video on social media showing U.S. personnel pulling the infant from the rubble as rescue crews continued searching for survivors more than 72 hours after two powerful earthquakes struck the South American country.
The infant was 9 months old and was rescued along with her mother, the State Department told Fox News Digital. Both suffered only minor injuries, according to the rescue team.
“This heroic rescue was carried out in Catia La Mar by the Fairfax County Urban Search and Rescue team (USA-01), which deployed to Venezuela on June 26 following activation by the State Department,” a State Department spokesperson said.
TRUMP SAYS VENEZUELA EARTHQUAKES LEFT ‘DEVASTATING NUMBER OF DEATHS’ AS US READIES AID
American search-and-rescue teams rescued an infant trapped beneath the rubble following this week’s deadly earthquakes in Venezuela, according to the State Department. (Department of State)
The rescue comes as emergency crews race against time to locate survivors before the critical rescue window closes.
“Against impossible odds, hope endures,” the State Department posted on X.
“American search and rescue teams rescued an infant from beneath the rubble following the earthquake in Venezuela,” the post continued. “Every life saved is a victory.”
The White House also shared the video, calling it “America at its best.”
“Thank you to the American search and rescue teams providing assistance in Venezuela,” the White House wrote.
PLAYERS, FANS FLEE STADIUM AS POWERFUL EARTHQUAKES STRIKE DURING VENEZUELA BASEBALL GAME
Rescue workers search through the rubble three days after earthquakes struck Catia la Mar, Venezuela. (AP Photo/Fernando Vergara)
Round-the-clock rescue efforts have continued since magnitude 7.2 and 7.5 earthquakes struck Venezuela’s northern coast Wednesday.
As of Saturday evening, officials said the death toll from the twin earthquakes had reached 1,430.
Earlier Saturday, officials reported that 243 people had been rescued.
FORMER METS PITCHER NARROWLY ESCAPES DEATH IN VENEZUELA EARTHQUAKES THANKS TO ELEVATOR MALFUNCTION
Rescue personnel with a rescue dog assist in rescue efforts after earthquakes hit the country, in La Guaira, Venezuela, Saturday. (REUTERS/Leonardo Fernandez Viloria)
According to The Associated Press, more than 68,000 people remain missing across the country.
Aid groups consider the first 48 to 72 hours after a disaster to be the most critical window for finding survivors, though access to food and water can extend that period.
Venezuelan officials said 17 flights carrying more than 1,600 rescue personnel had arrived Saturday to assist with search-and-rescue efforts.
US RESCUE TEAMS TO DESCEND ON HARD-HIT CARIBBEAN AFTER CATASTROPHIC HURRICANE MELISSA’S IMPACT
Members of the County of Los Angeles Fire Department’s international urban search and rescue team (USA-2) prepare to leave for Venezuela, in Pacoima, Calif., on Thursday. (Blake Fagan/AFP via Getty Images)
Urban Search and Rescue (USAR) teams from Virginia, California and Florida were dispatched to Venezuela on Friday to help search collapsed buildings.
According to the State Department, the three USAR teams include 312 personnel and 18 canine teams, including firefighters, physicians, structural engineers and canine search specialists. The teams also deployed more than 200,000 pounds of specialized rescue equipment.
The Los Angeles County team includes 73 members equipped with concrete-breaking equipment and specialized listening devices used to detect survivors trapped beneath debris.
COLORADO AVALANCHE VICTIM RESCUED IN DRAMATIC VIDEO
Responders search for victims in a demolished building in Caracas, Venezuela, after a magnitude 7.2 earthquake and a 7.5 aftershock struck the region. (Jesus Vargas/Getty Images)
Rescuers have fanned out across La Guaira, where the worst destruction occurred, and parts of Caracas, where families and volunteers have spent days pulling survivors and victims from the rubble.
The United States has pledged $150 million in emergency assistance and support for international relief organizations responding to the disaster.
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Fox News Digital has reached out to the State Department for additional information on the rescue.
Fox News Digital’s James Cirrone, and The Associated Press and Reuters contributed to this report.
Serbian President Aleksandar Vučić announced on Saturday that he will resign in the coming weeks and called for early presidential and parliamentary elections.
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“I will be president for only a few weeks, and then I will resign,” Vučić told supporters at a rally in Belgrade. His second and final term was due to expire in mid-2027.
His remarks followed recent comments suggesting he could step down, amid speculation that he may seek a return as prime minister, a position he held from 2014 to 2017
It also follows a year and a half of student-led anti-corruption protests, triggered by the collapse of a railway station canopy in Novi Sad that killed 16 people. The protesters have been demanding early elections.
During his speech, Vučić said he would support his Serbian Progressive Party in the upcoming elections, including snap parliamentary polls originally scheduled for next year.
He did not provide a specific timeline for his resignation or for the dissolution of parliament, which is required before early legislative elections can be held.
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