Oil prices could surge sharply if the Strait of Hormuz remains closed for an extended period, according to projections from Bloomberg Economics.
The outlook suggests Brent crude could spike to around $100 if the strait is shut for one month.
About $130 with a two-month disruption.
And up to roughly $150–160 if closures last three months, before gradually easing as markets adjust.
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German Chancellor Merz on nuclear energy:
Previous German federal governments decided to phase out nuclear energy. That decision is irreversible.
I regret this, but it is the reality.
Previous German federal governments decided to phase out nuclear energy. That decision is irreversible.
I regret this, but it is the reality.
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Hezbollah reportedly fired shells from Lebanon’s Bekaa Valley toward Syrian Army positions near the Syria–Lebanon border this week, according to U.S. officials and a Syrian diplomat.
Syrian troops did not respond. Hezbollah denied the attack, saying it already has an open front with Israel.
Source: WSJ
Syrian troops did not respond. Hezbollah denied the attack, saying it already has an open front with Israel.
Source: WSJ
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Trump on Iran:
They really are a nation of terror and hate.
They are paying a big price right now.
They really are a nation of terror and hate.
They are paying a big price right now.
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Trump tells his Macron drug prices story again at a Women's History Month event.
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Senator Graham on Iran:
How can you be for Trump's war and not be for the troops who are fighting it?
You know, the people who are coming after me don't have the guts to come after Trump.
How can you be for Trump's war and not be for the troops who are fighting it?
You know, the people who are coming after me don't have the guts to come after Trump.
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Senator Chris Murphy:
You cannot bomb a nation into submission.
You cannot impose regime change from the air.
When a nation sees images of America bombing elementary schools, it hardens their resolve.
Trump has apparently learned nothing from our nightmares in Iraq and Afghanistan.
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Senator Graham on Iran:
If you think gas prices are high now, give the Ayatollah a nuclear weapon to terrorize the region and threaten the Strait of Hormuz.
He will control gas prices forever.
If you think gas prices are high now, give the Ayatollah a nuclear weapon to terrorize the region and threaten the Strait of Hormuz.
He will control gas prices forever.
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Senator Chris Murphy on Minab school strike:
What makes this incident even more unforgivable is that the president is lying to us.
The president of the United States knows that Iran doesn’t have Tomahawks.
The president of the United States should know that we are the only nation using Tomahawks.
What makes this incident even more unforgivable is that the president is lying to us.
The president of the United States knows that Iran doesn’t have Tomahawks.
The president of the United States should know that we are the only nation using Tomahawks.
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Senator Graham on Khamenei:
I think he’s a homicidal maniac.
I think he’s a homicidal maniac.
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Senator Chris Murhpy on Iran's nuclear program:
The president has also said over and over again that a goal of the war is to permanently deny Iran the ability to have nuclear weapons.
But in our closed-door briefings, we learned that this is not actually a goal of the war plan.
It is not a goal of the war to destroy Iran’s nuclear program — which is not surprising, because you cannot destroy Iran’s nuclear program from the air.
You cannot destroy knowledge. You cannot hunt down with missiles every Iranian scientist who knows how to build a nuclear reactor.
And much of the material is buried so far underground that it is immune to an air campaign.
But then why is the president and the Department of Defense telling the American people that the point of the war is to destroy Iran’s nuclear program?
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Senator Graham on Iran:
Do you see any American ground troops? I don't see a need for it.
This is not Iraq.
Do you see any American ground troops? I don't see a need for it.
This is not Iraq.
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Senator Graham on Iran:
What we've done in 11 days is beyond what I thought we could do.
There are weeks more of this coming. Then we'll make an assessment.
What we've done in 11 days is beyond what I thought we could do.
There are weeks more of this coming. Then we'll make an assessment.
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Senator Chris Murphy:
The strait (Hormuz) has effectively been closed for ten days. There is no plan to reopen it.
And it is getting worse, not better, as news broke today that Iran is, for the first time, mining the strait.
The strait (Hormuz) has effectively been closed for ten days. There is no plan to reopen it.
And it is getting worse, not better, as news broke today that Iran is, for the first time, mining the strait.
We cannot discuss every detail of this on the Senate floor, but we all know that once mining begins, it becomes very difficult — if not impossible in the short term — to counter.
If the strait remains closed for weeks or months, that would trigger a global economic catastrophe.
This war is costing us at least $2 billion a day. There are no achievable war aims. The goals shift from day to day.
There is no plan to manage the consequences and fallout for the citizens of the Gulf.
You saw stories today of additional missiles raining down on our Gulf allies.
You probably know that they, much faster than we are, are running out of the interceptors that stop those missiles.
There will be increased deaths in the region very soon because we did not have adequate supplies ready for our allies in the region to protect themselves against an onslaught of Iranian aerial attacks.
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BREAKING: Iranian kamikaze drones hit a French military base near Erbil Airport in northern Iraq, wounding six French soldiers.
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Clash Report
BREAKING: Iranian kamikaze drones hit a French military base near Erbil Airport in northern Iraq, wounding six French soldiers.
Iraqi sources claim a French helicopter caught fire after being struck by suicide drones in Erbil.
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BREAKING: CENTCOM says a U.S. KC-135 refueling aircraft was lost during Operation Epic Fury in friendly airspace.
The incident involved two aircraft: one crashed in western Iraq while the other landed safely.
CENTCOM said the incident was not caused by hostile or friendly fire.
Rescue operations are ongoing.
The incident involved two aircraft: one crashed in western Iraq while the other landed safely.
CENTCOM said the incident was not caused by hostile or friendly fire.
Rescue operations are ongoing.
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