{"id":138003,"date":"2026-03-12T17:31:29","date_gmt":"2026-03-12T21:31:29","guid":{"rendered":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/"},"modified":"2026-03-12T17:31:29","modified_gmt":"2026-03-12T21:31:29","slug":"global-insight-5-questions-as-iran-war-grows-oil-tops-100","status":"publish","type":[3762],"link":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/","title":{"rendered":"Global insight: 5 questions as Iran war grows, oil tops $100"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69d913baedce5'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-7\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px; color: #0062dd;\">ARTICLE<\/span><\/strong><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">Global insight: 5 questions as Iran war grows, oil tops $100<\/h1>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/regional-analysis\/\" rel=\"category tag\">\n                    Regional Analysis\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/risk\/\" rel=\"category tag\">\n                    Risk\n                <\/a>\n            <\/li>\n            <\/ul>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-5\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"4000\" height=\"2667\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/312367866-1.jpg\" class=\"bbg-single-image__image attachment-full\" alt=\"Tehran, Iran\" title=\"312367866 (1)\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/312367866-1.jpg 4000w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/312367866-1-552x368.jpg 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/312367866-1-800x533.jpg 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/312367866-1-768x512.jpg 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/312367866-1-1536x1024.jpg 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/312367866-1-2048x1366.jpg 2048w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/312367866-1-162x108.jpg 162w\" sizes=\"auto, (max-width: 4000px) 100vw, 4000px\" \/>\n        \n            <\/figure>\n<\/div>\n\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69d913bb0635e'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6 bbg-column--m-width-6\"\n    style=\"\"\n    >\n    <p>    <p class=\"bbg-metadata bbg-metadata--date\">March 12, 2026<\/p>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong>Bloomberg Economics<\/strong><\/p>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2 bbg-column--valign-middle bbg-column--m-width-2 bbg-column--s-padding-right-2\"\n    style=\"\"\n    >\n    <div class=\"bb-tts\"\n\tdata-selector=\"main\"\n\tdata-label=\"Speak this page\"\n\tdata-custom-play=\"Play\"\n\tdata-custom-pause=\"Pause\"\n\tdata-custom-stop=\"Stop\"\n\tdata-overlay=\"false\"\n\tdata-invert=\"false\"\n\tdata-no-time=\"false\"\n\tdata-no-button-text=\"false\"\n\tdata-one-button=\"true\"\n\tdata-one-style=\"true\"\n\tdata-hide-stop=\"true\"\n\tdata-voice=\"Gordon\"\n\tdata-pitch=\"1\"\n\tdata-speed=\"1\"\n\tdata-align=\"flex-start\"\n>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-69d913bb09c06'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--has-bg-color\"\n    style=\"background-color:#e6f3ff;border-radius: 16px 16px 16px 16px;\"\n    >\n    <div class=\"wpb_content_element bbg-card  bbg-card-custom bbg-card-text-black\" id=\"card_1\" data-card_type=\"no_image\">\n      <style>#card_1 .bbg-card__innerwrapper {background-color: #e6f3ff;}#card_1 .bbg-card__innerwrapper {\n\tborder: 1px solid #e6f3ff !important;\n\t}#card_1:hover .bbg-card__innerwrapper {\n\tborder: 1px solid #e6f3ff !important;\n\t}#card_1 .bbg-card__innerwrapper {\n\tpadding: calc(var(--brand-large-padding, 40px) - 1px) !important;\n\t}#card_1 .bbg-card__innerwrapper .bbg-card__title {\n\tcolor: #000000 !important;\n\t}#card_1 .bbg-card__innerwrapper .bbg-card__content,#card_1 .bbg-card__innerwrapper .bbg-card__content p  {\n\tcolor: #000000 !important;\n\t}#card_1.bbg-card_hasImage .bbg-card__innerwrapper{padding-top: calc(var(--brand-default-padding, 16px) - 1px);padding-left: calc(var(--brand-default-padding, 16px) - 1px);padding-right: calc(var(--brand-default-padding, 16px) - 1px);}<\/style>\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n              <div class=\"bbg-card__eyebrow\" style=\"color: #000000\">KEY TAKEAWAYS<\/div>\n      \n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><\/p>\n<ul>\n<li>Oil surged above $100 a barrel as war in the Middle East extended into its second week, with traffic in the Strait of Hormuz remaining paralyzed and several countries cutting crude output.<\/li>\n<li>The conflict has left Gulf Arab states exposed, with their air defenses being overtaxed and their limited stockpiles of interceptors being drained by Iranian missile and drone attacks.<\/li>\n<li>The US has announced plans to provide naval escorts and insurance guarantees for tankers transiting the Strait, but keeping it open may prove to be a challenge due to potential Iranian disruptions.<\/li>\n<\/ul>\n<p>\n<\/div>\n          <\/div>\n\n      <\/div>\n\n  <\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-69d913bb0dd2c'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><i>This article was written by Bloomberg Economics Middle East Geoeconomics Lead Dina Esfandiary, Chief Emerging Markets Economist Ziad Daoud, Defense Lead Becca Wasser, and Chief Geoeconomics Analyst Jennifer Welch. It appeared first on the Bloomberg Terminal.<\/i><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>Oil surged above $100 a barrel on Monday, as war in the Middle East extended into its second week. Traffic in the Strait of Hormuz remains paralyzed. Saudi Arabia\u2019s largest oil refinery is offline. Qatar has shut off the world\u2019s biggest liquefied natural gas facility. Iraq, Kuwait, and the UAE are all cutting crude output.<\/p>\n<p>Going forward, a central question is how far oil markets will go in pricing in the risk that disruptions won\u2019t be temporary. Answering that question hinges on five variables: Iranian firepower, Gulf defenses, US resolve, Hormuz reopening and supply rerouting.<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:1024px\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"473\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-3-800x473.png\" class=\"bbg-single-image__image attachment-large\" alt=\"Line chart showing oil surging above $100\" title=\"Figure 1\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-3-800x473.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-3-552x326.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-3-100x60.png 100w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-3-768x454.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-3-183x108.png 183w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-3.png 1251w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>1. How long can Iran keep fighting?<\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>There are two dimensions to this question: Iran\u2019s political resilience and its military capacity.<\/p>\n<ul>\n<li>Politically, while former Supreme Leader Ayatollah Ali Khamenei and many senior officials have been killed by joint US-Israeli strikes, the Islamic Republic remains in place and a collapse is unlikely, at least in the near term. Iran named Mojtaba Khamenei, the son of the late ayatollah, the new supreme leader, signaling continuity and likely a continuation of the war.\n<ul>\n<li>Militarily, there\u2019s no way of knowing exactly how many missiles or drones are left in Iran\u2019s stockpile. We estimate Iran fired more than 1,200 projectiles in the first 48 hours of the war and that US-Israeli strikes have hit a number of its missile production facilities and launchers, and missile and drone launch sites.<\/li>\n<li>That math suggests Iran\u2019s current intensity of attacks may not be sustainable. Iranian missile attacksare slowing, but drone attacks continue apace.<\/li>\n<li>Even a small number of projectiles could continue to disrupt traffic in the Strait, damage regional energy facilities and impact civilian populations \u2014 especially if air defenses are stretched.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:1024px\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"608\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-3-800x608.png\" class=\"bbg-single-image__image attachment-large\" alt=\"Count of Iranian projectiles fired in the first 48 hours of the war.\" title=\"Figure 2\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-3-800x608.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-3-552x419.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-3-768x584.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-3-142x108.png 142w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-3.png 1249w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--margin-top-compact bbg-row--margin-bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-69d913bb13b34'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\tbackground: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Interstitial_bg.png);\n\t\t\t\tbackground-repeat: no-repeat;\n\t\t\t\tbackground-position: center center;\n\t\t\t\tbackground-size: cover;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_2.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_2.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:white;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_2\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Discover more with Bloomberg newsletters<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Subscribe now<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_3169872143715562481\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/newsletter\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69d913bb19c75'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>2. How long can the Gulf keep defending?<\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>The conflict has left Gulf Arab states exposed and their economic visions under siege.<\/p>\n<ul>\n<li>After retaliating against Israel and US bases in the region, Iran hit the Gulf states, unleashing waves of missiles and drones. While most attacks were intercepted, some were not \u2014 undercutting the Gulf states\u2019 carefully curated image as havens of stability and prosperity and dependable energy suppliers.<\/li>\n<li>Those attacks are also overtaxing Gulf states\u2019 air defenses and draining their limited stockpiles of interceptors \u2014 which can\u2019t be easily, quickly or cheaply replenished. The mixed barrages of drones and missiles mean the Gulf states have been countering Iranian one-way attack drones that cost anywhere from $20,000 to $50,000 with air defense interceptors costing $4.19 million apiece.<\/li>\n<\/ul>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3>Iranian missiles have range<\/h3>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:1024px\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"434\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-3-800x434.png\" class=\"bbg-single-image__image attachment-large\" alt=\"Range of Iranian missiles\" title=\"Figure 3\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-3-800x434.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-3-552x300.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-3-768x417.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-3-192x104.png 192w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-3.png 1249w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>3. Will Washington stay the course?<\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>More than a week into the conflict, questions remain about the Trump administration\u2019s motives, strategy and desired end state \u2014 and political risks loom large.<\/p>\n<ul>\n<li>On Feb. 28, President Donald Trump said the goal was \u201celiminating imminent threats.\u201d On March 2, he put forth the more detailed goals of destroying Iran\u2019s missile capabilities and navy, and ensuring Tehran couldn\u2019t obtain a nuclear weapon or support external terrorist organizations. Those are ambitious objectives. Meeting them would require time, resources and staying power. Some may not be met by military force alone.<\/li>\n<li>On March 6, Trump said there would be no deal with Iran except<br \/>\nunconditional surrender, yet the political incentives to find an off ramp may be growing. Significant portions of the US public \u2014 in some polls as high as 60% of respondents \u2014 disapprove of the conflict. Those numbers will likely rise if oil and gas prices keep climbing, and if there are additional US casualties. To date, the US says seven service members have been killed in the war.<\/li>\n<\/ul>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:1024px\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"460\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-4-2-800x460.png\" class=\"bbg-single-image__image attachment-large\" alt=\"Bar chart showing over half of Americans disapprove of the US war with Iran\" title=\"Figure 4\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-4-2-800x460.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-4-2-552x318.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-4-2-768x442.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-4-2-188x108.png 188w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-4-2.png 1246w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>4. Can the US reopen Hormuz?<\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>Trump says the US will provide naval escorts and insurance guarantees for tankers transiting the Strait, following Iranian threats and attacks that have all but halted traffic. Keeping the Strait open may prove to be a challenge, however.<\/p>\n<ul>\n<li>The Hormuz blockage is already straining oil production across the Middle East and, combined with attacks on regional energy infrastructure, pushing oil prices above $100 a barrel. If Hormuz remains shut and disruptions persist, it\u2019s not hard to imagine oil prices hitting a significantly higher number.<\/li>\n<li>There are multiple ways Iran could continue to disrupt traffic, even after US-Israeli strikes on its navy, missiles and drones facilities.\n<ul>\n<li>Islamic Revolutionary Guard Corps gunboats and drones could swarm and harass commercial ships, conducting risky maneuvers alongside them.<\/li>\n<li>Drones and missiles launched from shore \u2014 or even suicide boats \u2014 could attack ships.<\/li>\n<li>Iran could also mine the Strait, using small vessels and fi shing boats if its navy is incapacitated.<\/li>\n<li>Iranian proxies like the Houthis could also harass ships with drones.<\/li>\n<\/ul>\n<\/li>\n<li>US forces could fi re on attacking Iranian ships, shoot down Iranian projectiles and clear mines. But that would come at a cost, put US forces at greater risk and wouldn\u2019t necessarily prevent Iran from attempting to close the Strait again. The instability and uncertainty itself may be enough to disrupt some traffic.<\/li>\n<\/ul>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:1024px\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"538\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-5-2-800x538.png\" class=\"bbg-single-image__image attachment-large\" alt=\"pie chart showing where Hormuz oil goes\" title=\"Figure 5\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-5-2-800x538.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-5-2-552x371.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-5-2-768x516.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-5-2-161x108.png 161w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-5-2.png 1252w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>5. Can re-routing away from Hormuz solve the problem?<\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>The short answer is no. The long answer is still no, for these reasons:<\/p>\n<ul>\n<li>Alternative routes can absorb only a fraction of the region\u2019s energy exports. Saudi Arabia\u2019s East-West pipeline and the UAE\u2019s Fujairah link bypass the Strait of Hormuz. Yet even combined with other routes, their capacity could handle, at best, about half of normal Hormuz flows, leaving a significant shortfall.<\/li>\n<li>These pipelines are hardly secure and could themselves become targets of attacks. Tankers loading Saudi crude in the Red Sea may still transit the Bab el-Mandeb Strait. The narrow passage lies within reach of Yemen\u2019s Houthis, exposing vessels to further disruptions.<\/li>\n<li>Many producers, including Bahrain and Kuwait, lack alternatives to the Strait of Hormuz. Iraq, Kuwait and the UAE are already cutting output as exports stall and storage facilities fill up.<\/li>\n<li>The alternatives for gas are even more scarce. Qatar \u2014 one of the world\u2019s largest liquefied natural gas exporters \u2014 relies almost entirely on tankers leaving the Gulf. With no pipelines carrying gas abroad, shipments halt if tankers cannot leave the Gulf.<\/li>\n<\/ul>\n\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-69d913bb2195b'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div class=\"bbg-accordion transparent\">\n\t<input type=\"checkbox\"  id=\"bbg-accordion-toggle-69d913bb23495\">\n\t<div class=\"bbg-accordion-parent\" data-accordion-toggle aria-expanded=\"false\">\n\t\t<label class=\"bbg-accordion-label\" for=\"bbg-accordion-toggle-69d913bb23495\">\n\t\t\t\t<h5 class=\"bbg-accordion-title\" data-label=\"Disclaimer\">\n\t\tDisclaimer\n\t<\/h5>\n\n\t\t\t\t\t<\/label>\n\t<\/div>\n\t<div class=\"bbg-accordion-content\">\n\t\t<div class=\"bb-wysiwyg\">\n\t<p>The data included in these materials are for illustrative purposes only. The BLOOMBERG TERMINAL service and Bloomberg data products (the \u201cServices\u201d) are owned and distributed by Bloomberg Finance L.P. (\u201cBFLP\u201d) except (i) in Argentina, Australia and certain jurisdictions in the Pacific Islands, Bermuda, China, India, Japan, Korea and New Zealand, where Bloomberg L.P. and its subsidiaries (\u201cBLP\u201d) distribute these products, and (ii) in Singapore and the jurisdictions serviced by Bloomberg\u2019s Singapore office, where a subsidiary of BFLP distributes these products. BLP provides BFLP and its subsidiaries with global marketing and operational support and service. Certain features, functions, products and services are available only to sophisticated investors and only where permitted. BFLP, BLP and their affiliates do not guarantee the accuracy of prices or other information in the Services. Nothing in the Services shall constitute or be construed as an offering of financial instruments by BFLP, BLP or their affiliates, or as investment advice or recommendations by BFLP, BLP or their affiliates of an investment strategy or whether or not to \u201cbuy\u201d, \u201csell\u201d or \u201chold\u201d an investment. Information available via the Services should not be considered as information sufficient upon which to base an investment decision. The following are trademarks and service marks of BFLP, a Delaware limited partnership, or its subsidiaries: BLOOMBERG, BLOOMBERG ANYWHERE, BLOOMBERG MARKETS, BLOOMBERG NEWS, BLOOMBERG PROFESSIONAL, BLOOMBERG TERMINAL and BLOOMBERG.COM. Absence of any trademark or service mark from this list does not waive Bloomberg\u2019s intellectual property rights in that name, mark or logo.<\/p>\n<p>All rights reserved.\u00a0\u00a9 2025 Bloomberg.<\/p>\n\n<\/div>\n\n\n\t<\/div>\n<\/div>\n\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <style>section[data-anchor=row-69d913bb2524f]::before {\n\t\t\t\tbackground-color: #f4f4f9;\n\t\t\t}<\/style>\n    <section class=\"bbg-row bg--custom-color  bg--f4f4f9 text--black bbg-row--full-bg-bleed\" data-anchor='row-69d913bb2524f'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h3>Related Content<\/h3>\n\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-4 bbg-column--halign-right\"\n    style=\"\"\n    >\n    \n<div\n  id=\"cta_554612946989233399\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"View all\"\n        >\n                      View all\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <script>\n    window.feed = window.feed || {};\n    window.feed['69d913bb2acc5'] = {\"config\":{\"uuid\":\"\",\"title\":\"\",\"filter_label\":\"\",\"post_type\":\"post\",\"order_by\":\"date\",\"direction\":\"desc\",\"show_date\":\"no\",\"show_excerpt\":\"no\",\"display\":\"limit\",\"filter\":\"OR\",\"max_items\":\"3\",\"skip_cache\":\"no\",\"feed_style\":\"grid\",\"published_date\":\"\",\"show_cta\":\"\",\"featured_image\":\"yes\",\"el_class\":\"\",\"terms_post\":\"\",\"terms_page\":\"\",\"terms_attachment\":\"\",\"terms_webinar\":\"\",\"terms_bbmegamenu\":\"\",\"terms_directory\":\"\",\"terms_datalayer\":\"\",\"terms_templatera\":\"\",\"terms_bbg-fourofour\":\"\",\"terms_reusable\":\"\",\"terms_cookie_items\":\"\",\"terms_bbl_email_subscriber\":\"\",\"terms_dynamic_table_ticker\":\"\",\"terms_bfix\":\"\",\"terms_quicklinks\":\"\",\"terms_interstitial\":\"\",\"terms_slide\":\"\",\"terms_gated_content_form\":\"\",\"terms_site_alert\":\"\",\"terms_country\":\"\",\"terms_region\":\"\",\"terms\":\"\"},\"cpt\":{\"name\":\"post\",\"label\":\"Posts\",\"labels\":{\"name\":\"Posts\",\"singular_name\":\"Post\",\"add_new\":\"Add New\",\"add_new_item\":\"Add New Post\",\"edit_item\":\"Edit Post\",\"new_item\":\"New Post\",\"view_item\":\"View Post\",\"view_items\":\"View Posts\",\"search_items\":\"Search Posts\",\"not_found\":\"No posts found.\",\"not_found_in_trash\":\"No posts found in Trash.\",\"parent_item_colon\":null,\"all_items\":\"All Posts\",\"archives\":\"Post Archives\",\"attributes\":\"Post Attributes\",\"insert_into_item\":\"Insert into post\",\"uploaded_to_this_item\":\"Uploaded to this post\",\"featured_image\":\"Featured image\",\"set_featured_image\":\"Set featured image\",\"remove_featured_image\":\"Remove featured image\",\"use_featured_image\":\"Use as featured image\",\"filter_items_list\":\"Filter posts list\",\"filter_by_date\":\"Filter by date\",\"items_list_navigation\":\"Posts list navigation\",\"items_list\":\"Posts list\",\"item_published\":\"Post published.\",\"item_published_privately\":\"Post published privately.\",\"item_reverted_to_draft\":\"Post reverted to draft.\",\"item_trashed\":\"Post trashed.\",\"item_scheduled\":\"Post scheduled.\",\"item_updated\":\"Post updated.\",\"item_link\":\"Post Link\",\"item_link_description\":\"A link to a post.\",\"menu_name\":\"Posts\",\"name_admin_bar\":\"Post\"},\"description\":\"\",\"public\":true,\"hierarchical\":false,\"exclude_from_search\":false,\"publicly_queryable\":true,\"show_ui\":true,\"show_in_menu\":true,\"show_in_nav_menus\":true,\"show_in_admin_bar\":true,\"menu_position\":5,\"menu_icon\":\"dashicons-admin-post\",\"capability_type\":\"post\",\"map_meta_cap\":true,\"register_meta_box_cb\":null,\"taxonomies\":[],\"has_archive\":false,\"query_var\":false,\"can_export\":true,\"delete_with_user\":true,\"template\":[],\"template_lock\":false,\"_builtin\":true,\"_edit_link\":\"post.php?post=%d\",\"cap\":{\"edit_post\":\"edit_post\",\"read_post\":\"read_post\",\"delete_post\":\"delete_post\",\"edit_posts\":\"edit_posts\",\"edit_others_posts\":\"edit_others_posts\",\"delete_posts\":\"delete_posts\",\"publish_posts\":\"publish_posts\",\"read_private_posts\":\"read_private_posts\",\"read\":\"read\",\"delete_private_posts\":\"delete_private_posts\",\"delete_published_posts\":\"delete_published_posts\",\"delete_others_posts\":\"delete_others_posts\",\"edit_private_posts\":\"edit_private_posts\",\"edit_published_posts\":\"edit_published_posts\",\"create_posts\":\"edit_posts\"},\"rewrite\":false,\"show_in_rest\":true,\"rest_base\":\"posts\",\"rest_namespace\":\"wp\\\/v2\",\"rest_controller_class\":\"WP_REST_Posts_Controller\",\"rest_controller\":{},\"revisions_rest_controller_class\":false,\"revisions_rest_controller\":{},\"autosave_rest_controller_class\":false,\"autosave_rest_controller\":{},\"late_route_registration\":false},\"taxonomies\":[{\"taxonomy\":\"post_format\",\"terms\":[{\"term_id\":33,\"name\":\"Link\",\"slug\":\"post-format-link\",\"term_group\":0,\"term_taxonomy_id\":33,\"taxonomy\":\"post_format\",\"description\":\"\",\"parent\":0,\"count\":12,\"filter\":\"raw\"},{\"term_id\":666,\"name\":\"Link\",\"slug\":\"post-format-link\",\"term_group\":0,\"term_taxonomy_id\":666,\"taxonomy\":\"post_format\",\"description\":\"\",\"parent\":0,\"count\":2,\"filter\":\"raw\"}]},{\"taxonomy\":\"post_series\",\"terms\":{\"0\":{\"term_id\":3751,\"name\":\"Asia Centric\",\"slug\":\"asia-centric\",\"term_group\":0,\"term_taxonomy_id\":3751,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":51,\"filter\":\"raw\"},\"1\":{\"term_id\":3741,\"name\":\"Bloomberg Expert Access\",\"slug\":\"bloomberg-expert-access\",\"term_group\":0,\"term_taxonomy_id\":3741,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":10,\"filter\":\"raw\"},\"2\":{\"term_id\":3739,\"name\":\"Bloomberg Pro Tips\",\"slug\":\"bloomberg-pro-tips\",\"term_group\":0,\"term_taxonomy_id\":3739,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":57,\"filter\":\"raw\"},\"4\":{\"term_id\":3743,\"name\":\"Functions for the Market\",\"slug\":\"ffm\",\"term_group\":0,\"term_taxonomy_id\":3743,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":7,\"filter\":\"raw\"},\"5\":{\"term_id\":3770,\"name\":\"Market Dialogues\",\"slug\":\"market-dialogues\",\"term_group\":0,\"term_taxonomy_id\":3770,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":11,\"filter\":\"raw\"},\"6\":{\"term_id\":3742,\"name\":\"Need to Know\",\"slug\":\"need-to-know\",\"term_group\":0,\"term_taxonomy_id\":3742,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":15,\"filter\":\"raw\"},\"7\":{\"term_id\":3798,\"name\":\"Pricing Insights\",\"slug\":\"pricing-insights\",\"term_group\":0,\"term_taxonomy_id\":3798,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":6,\"filter\":\"raw\"},\"8\":{\"term_id\":3740,\"name\":\"Terminal Essentials\",\"slug\":\"terminal-essentials\",\"term_group\":0,\"term_taxonomy_id\":3740,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":6,\"filter\":\"raw\"}}},{\"taxonomy\":\"type\",\"terms\":{\"0\":{\"term_id\":3762,\"name\":\"Article\",\"slug\":\"article\",\"term_group\":0,\"term_taxonomy_id\":3762,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":1626,\"filter\":\"raw\"},\"1\":{\"term_id\":3763,\"name\":\"Case Study\",\"slug\":\"case-study\",\"term_group\":0,\"term_taxonomy_id\":3763,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":38,\"filter\":\"raw\"},\"3\":{\"term_id\":3765,\"name\":\"Podcast\",\"slug\":\"podcast\",\"term_group\":0,\"term_taxonomy_id\":3765,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":504,\"filter\":\"raw\"},\"4\":{\"term_id\":3815,\"name\":\"Press Release\",\"slug\":\"press-release\",\"term_group\":0,\"term_taxonomy_id\":3815,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":79,\"filter\":\"raw\"},\"5\":{\"term_id\":3766,\"name\":\"Q&amp;A\",\"slug\":\"qa\",\"term_group\":0,\"term_taxonomy_id\":3766,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":101,\"filter\":\"raw\"},\"6\":{\"term_id\":3767,\"name\":\"Report\",\"slug\":\"report\",\"term_group\":0,\"term_taxonomy_id\":3767,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":68,\"filter\":\"raw\"},\"8\":{\"term_id\":3768,\"name\":\"Video\",\"slug\":\"video\",\"term_group\":0,\"term_taxonomy_id\":3768,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":133,\"filter\":\"raw\"}}}],\"excluded_taxonomies\":{\"\":[]},\"post_id\":138003};\n<\/script>\n<div class=\"feed\" data-id=\"69d913bb2acc5\"><\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none bbg-row--margin-top-normal bbg-row--margin-bottom-normal bbg-row--full-bg-bleed\" data-anchor='row-69d913bb2c448'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_3.bbg-card_hasCta{\n\t\t\tbackground:#e6f3ff;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_3.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_3.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:black;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_3.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_3.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_3\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Get insights delivered to your inbox<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Sign up for Bloomberg Professional Services newsletter<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_7017538828843614708\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/newsletter\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Oil surged above $100 a barrel on Monday, as war in the Middle East extended into its second week and traffic in the Strait of Hormuz remains paralyzed.<\/p>\n","protected":false},"author":1938,"featured_media":138022,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-article.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"534","footnotes":""},"categories":[453,534,469],"tags":[3821,451,3852],"series":[],"class_list":["post-138003","post","type-post","status-publish","format-standard","hentry","category-markets","category-regional-analysis","category-risk","tag-bloomberg-economics","tag-corporations","tag-corps_2026","type-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Global insight: 5 questions as Iran war grows, oil tops $100 | Insights | Bloomberg Professional Services<\/title>\n<meta name=\"description\" content=\"Oil surged above $100 a barrel on Monday, as war in the Middle East extended into its second week and traffic in the Strait of Hormuz remains paralyzed.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global insight: 5 questions as Iran war grows, oil tops $100 | Insights | Bloomberg Professional Services\" \/>\n<meta property=\"og:description\" content=\"Oil surged above $100 a barrel on Monday, as war in the Middle East extended into its second week and traffic in the Strait of Hormuz remains paralyzed.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/\" \/>\n<meta property=\"og:site_name\" content=\"Bloomberg Professional Services\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/bloomberglp\" \/>\n<meta property=\"article:published_time\" content=\"2026-03-12T21:31:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2F312367866-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"4000\" \/>\n\t<meta property=\"og:image:height\" content=\"2667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"emincer2\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theterminal\" \/>\n<meta name=\"twitter:site\" content=\"@theterminal\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"emincer2\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/\"},\"author\":{\"name\":\"emincer2\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/person\/2bbaed889456449ebb090d7bf4202a98\"},\"headline\":\"Global insight: 5 questions as Iran war grows, oil tops $100\",\"datePublished\":\"2026-03-12T21:31:29+00:00\",\"dateModified\":\"2026-03-12T21:31:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/\"},\"wordCount\":\"1935\",\"publisher\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization\"},\"keywords\":[\"Bloomberg Economics\",\"Corporations\",\"Corps_2026\"],\"articleSection\":[\"Markets\",\"Regional Analysis\",\"Risk\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/\",\"url\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/\",\"name\":\"Global insight: 5 questions as Iran war grows, oil tops $100 | Insights | Bloomberg Professional Services\",\"isPartOf\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#website\"},\"datePublished\":\"2026-03-12T21:31:29+00:00\",\"dateModified\":\"2026-03-12T21:31:29+00:00\",\"description\":\"Oil surged above $100 a barrel on Monday, as war in the Middle East extended into its second week and traffic in the Strait of Hormuz remains paralyzed.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#website\",\"url\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/\",\"name\":\"Bloomberg Professional Services\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization\",\"name\":\"Bloomberg Professional Services\",\"url\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png\",\"contentUrl\":\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png\",\"width\":\"512\",\"height\":\"103\",\"caption\":\"Bloomberg Professional Services\"},\"image\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.instagram.com\/bloomberg\/\",\"https:\/\/www.linkedin.com\/showcase\/bloomberg-professional-service\/\",\"https:\/\/www.facebook.com\/bloomberglp\",\"https:\/\/twitter.com\/theterminal\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/person\/2bbaed889456449ebb090d7bf4202a98\",\"name\":\"Bloomberg Professional Services\",\"url\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Global insight: 5 questions as Iran war grows, oil tops $100 | Insights | Bloomberg Professional Services","description":"Oil surged above $100 a barrel on Monday, as war in the Middle East extended into its second week and traffic in the Strait of Hormuz remains paralyzed.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/","og_locale":"en_US","og_type":"article","og_title":"Global insight: 5 questions as Iran war grows, oil tops $100 | Insights | Bloomberg Professional Services","og_description":"Oil surged above $100 a barrel on Monday, as war in the Middle East extended into its second week and traffic in the Strait of Hormuz remains paralyzed.","og_url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/","og_site_name":"Bloomberg Professional Services","article_publisher":"https:\/\/www.facebook.com\/bloomberglp","article_published_time":"2026-03-12T21:31:29+00:00","og_image":[{"width":4000,"height":2667,"url":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2F312367866-1.jpg","type":"image\/jpeg"}],"author":"emincer2","twitter_card":"summary_large_image","twitter_creator":"@theterminal","twitter_site":"@theterminal","twitter_misc":{"Written by":"emincer2","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/#article","isPartOf":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/"},"author":{"name":"emincer2","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/person\/2bbaed889456449ebb090d7bf4202a98"},"headline":"Global insight: 5 questions as Iran war grows, oil tops $100","datePublished":"2026-03-12T21:31:29+00:00","dateModified":"2026-03-12T21:31:29+00:00","mainEntityOfPage":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/"},"wordCount":"1935","publisher":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization"},"keywords":["Bloomberg Economics","Corporations","Corps_2026"],"articleSection":["Markets","Regional Analysis","Risk"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/","url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/","name":"Global insight: 5 questions as Iran war grows, oil tops $100 | Insights | Bloomberg Professional Services","isPartOf":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#website"},"datePublished":"2026-03-12T21:31:29+00:00","dateModified":"2026-03-12T21:31:29+00:00","description":"Oil surged above $100 a barrel on Monday, as war in the Middle East extended into its second week and traffic in the Strait of Hormuz remains paralyzed.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/regional-analysis\/global-insight-5-questions-as-iran-war-grows-oil-tops-100\/"]}]},{"@type":"WebSite","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#website","url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/","name":"Bloomberg Professional Services","description":"","publisher":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization","name":"Bloomberg Professional Services","url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/logo\/image\/","url":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png","contentUrl":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png","width":"512","height":"103","caption":"Bloomberg Professional Services"},"image":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.instagram.com\/bloomberg\/","https:\/\/www.linkedin.com\/showcase\/bloomberg-professional-service\/","https:\/\/www.facebook.com\/bloomberglp","https:\/\/twitter.com\/theterminal"]},{"@type":"Person","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/person\/2bbaed889456449ebb090d7bf4202a98","name":"Bloomberg Professional Services","url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023"}]}},"_links":{"self":[{"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/posts\/138003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/users\/1938"}],"replies":[{"embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/comments?post=138003"}],"version-history":[{"count":10,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/posts\/138003\/revisions"}],"predecessor-version":[{"id":138046,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/posts\/138003\/revisions\/138046"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/media\/138022"}],"wp:attachment":[{"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/media?parent=138003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/categories?post=138003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/tags?post=138003"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/series?post=138003"},{"taxonomy":"type","embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/type?post=138003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}