Oil and gas traders are confronting a potential worst-case scenario after the US-Israeli strike on Iran Saturday: the Strait of Hormuz is effectively paralyzed, Saudi Arabia’s largest refinery is shut and Iran has hit Qatar’s giant liquified natural gas export facility.

On this week’s episode of Trumponomics, host Stephanie Flanders speaks to Bloomberg Opinion columnist Javier Blas and Ziad Daoud, chief emerging markets economist for Bloomberg Economics. Together they unpack the unsettlingly wide range of outcomes from the war, and how Russia will gain economically the longer the conflict continues.

Read more: 
https://www.bloomberg.com/opinion/articles/2026-03-04/iran-war-the-most-precious-commodity-is-water-not-oil

Oil and gas traders are confronting a potential worst-case scenario after the US-Israeli strike on Iran Saturday: the Strait of Hormuz is effectively paralyzed, Saudi Arabia&rsquo;s largest refinery is shut and Iran has hit Qatar&rsquo;s giant liquified natural gas export facility.
On this week&rsquo;s episode of Trumponomics, host Stephanie Flanders speaks to&nbsp;Bloomberg Opinion columnist Javier Blas and&nbsp;Ziad Daoud, chief emerging markets economist for Bloomberg Economics. Together they unpack the unsettlingly wide range of outcomes from the war,&nbsp;and how Russia will gain economically the longer the conflict continues.
Read more:&nbsp; <a href="https://www.bloomberg.com/opinion/articles/2026-03-04/iran-war-the-most-precious-commodity-is-water-not-oil">https://www.bloomberg.com/opinion/articles/2026-03-04/iran-war-the-most-precious-commodity-is-water-not-oil</a>

Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next.

Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next.

Who will win the trade war, and how? If the job market is so strong, why does your paycheck seem so meager? What will drive the economy of the future? Stephanomics, a podcast hosted by Bloomberg Economics head Stephanie Flanders, will take listeners on location each week to answer questions like these and bring the global economy to life.

Trumponomics

Countdown to a Global Energy Shock

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/f1a18eab-2f14-4fe1-be27-b403015ed496/transcript