Iran threatens $200 oil barrels as U.S. prepares massive release of emergency petroleum reserves | 11 March 2026 | Iran warned the United States Wednesday that oil prices could soar to $200 a barrel as escalating U.S. and Israeli strikes against the country continue to rattle global energy markets. To prevent what could be one of the worst oil shocks since the 1970s, the U.S. announced that Washington, along with the International Energy Agency (IEA), will soon release a historic volume of oil from its emergency reserves. If oil prices reach such levels, average gas prices in the United States could surpass $5 a gallon, analysts predict. As of Wednesday, the national average price for regular gasoline stood at $3.57 per gallon, according to the American Automobile Association.