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Oil Spikes as Middle East War All But Halts Hormuz Ship Strait | Bloomberg Intelligence
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March 2, 2026
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- Ellen Wald, President of Transversal Consulting discusses the impact of the Iran strikes on oil markets. Oil surged as the first impacts of the war in the Middle East began to be felt, with a near halt to traffic through the Strait of Hormuz and disruption at a big refinery in Saudi Arabia.
- Dr Ariel Cohen, Senior Fellow at the Atlantic Council, discusses the latest on Iran. US President Donald Trump said the bombing campaign against Iran could last for weeks and called on the nation’s leaders to capitulate, while the Islamic Republic’s security chief ruled out negotiations.
- Wayne Sanders, Bloomberg Intelligence Senior Defense Weapons Analyst, discusses how the U.S, Israel strikes on Iran will impact defense platforms. According to Bloomberg Intelligence: US defense primes Lockheed, RTX and Northrop sit at the center of the air, missile-defense and strike capabilities underscored by the US-Israel campaign in Iran. The operation reinforces the primacy of air and sea assets, with crewed platforms retaining clear relevance.
- Edward Price, Non-Resident Senior Fellow at NYU, discusses the latest in the Middle East. Senior Senate Democrat Mark Warner said Donald Trump’s rationale for the US-Israeli attack on Iran isn’t convincing and the US president owes an explanation to the families of American service members killed in action.
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