The conventional wisdom used to be that war in the Middle East would send oil prices soaring. Not anymore.

On today’s Big Take podcast, Bloomberg Opinion’s Javier Blas and host Sarah Holder talk about the emergence of the US as the world’s largest oil producer — and how that new power dynamic is playing out in the war in Iran.

The conventional wisdom used to be that war in the Middle East would send oil prices soaring. Not anymore. On today&rsquo;s Big Take podcast, Bloomberg Opinion&rsquo;s Javier Blas and host Sarah Holder talk about the emergence of the US as the world&rsquo;s largest oil producer &mdash; and how that new power dynamic is playing out in the war in Iran.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

There’s War in the Middle East. Why Are Oil Prices Falling?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ff00ce84-71b0-4463-995d-b3050163ceb0/transcript

Targets in Iran, Israel and in the Middle East are under attack in an unprecedented escalation in the conflict between the US and Iran. The combat operations come after weeks of negotiations between the US and Iran over what remains of its nuclear program.

On today’s Big Take, Bloomberg’s Jeff Mason and Joumanna Bercetche join host David Gura to discuss the timing and goals of this weekend’s strikes — and the risk of a widening, regional conflict.

This is a developing story. We are live blogging at Bloomberg.comwith the latest from across the globe.

Read more: 
Diplomacy Shifts to War: How Trump’s Team Decided to Attack Iran
Oil Market’s ‘Worst Fears’ Are Here as Gulf Conflict Hits Hormuz 

Hosted by David Gura; Produced by David Fox and Rachael Lewis-Krisky; Reported by Jeff Mason and Joumanna Bercetche; Edited by Naomi Shavin.

Fact-checking by Rachael Lewis-Krisky.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Targets in Iran, Israel and in the Middle East are under attack in an unprecedented escalation in the conflict between the US and Iran. The combat operations come after weeks of negotiations between the US and Iran over what remains of its nuclear program.
On today&rsquo;s Big Take, Bloomberg&rsquo;s Jeff Mason and Joumanna Bercetche join host David Gura to discuss the timing and goals of this weekend&rsquo;s strikes &mdash; and the risk of a widening, regional conflict.
This is a developing story. We are <a href="https://www.bloomberg.com/news/live-blog/2026-02-28/iran-strikes?">live blogging</a> at <a href="http://bloomberg.com">Bloomberg.com</a>with the latest from across the globe.
Read more:&nbsp;
<ul>
<li><a href="https://www.bloomberg.com/news/articles/2026-03-01/iran-strikes-how-us-decided-to-launch-operation-epic-fury">Diplomacy Shifts to War: How Trump&rsquo;s Team Decided to Attack Iran</a></li>
<li><a href="https://www.bloomberg.com/news/articles/2026-03-01/oil-s-worst-nightmare-is-here-as-gulf-conflict-hits-hormuz">Oil Market&rsquo;s &lsquo;Worst Fears&rsquo; Are Here as Gulf Conflict Hits Hormuz</a>&nbsp;</li>
</ul>
Hosted by David Gura; Produced by David Fox and Rachael Lewis-Krisky; Reported by Jeff Mason and Joumanna Bercetche; Edited by Naomi Shavin.
Fact-checking by Rachael Lewis-Krisky.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Threat of Iran’s “No Red Lines” Retaliation

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/4919495e-7bf0-4d7c-8e89-b400014b8be7/transcript

After steering one of Wall Street’s iconic investment banks through the financial crisis, former Goldman Sachs CEO Lloyd Blankfein is investing his own money and, with the publication of a new memoir, reflecting on his time at the firm.

On today’s Big Take podcast, Blankfein tells host David Gura how he uses AI, what he sees as a worrying expansion of opaque investment products and what happens when public companies respond to political pressures. And David asks him about the resignation of Goldman’s top lawyer following the release of the latest Epstein files.

Hosted by David Gura; Produced by Julia Press; Edited by Jeffrey Grocott.

Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

After steering one of Wall Street&rsquo;s iconic investment banks through the financial crisis, former Goldman Sachs CEO Lloyd Blankfein is investing his own money and, with the publication of a new memoir, reflecting on his time at the firm.
On today&rsquo;s Big Take podcast, Blankfein tells host David Gura how he uses AI, what he sees as a worrying expansion of opaque investment products and what happens when public companies respond to political pressures. And David asks him about the resignation of Goldman&rsquo;s top lawyer following the release of the latest Epstein files.
Hosted by David Gura; Produced by Julia Press; Edited by Jeffrey Grocott.
Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Former Goldman Sachs CEO Lloyd Blankfein Says the Market Is Due For a Reckoning

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ca648ee7-51cc-421d-ba54-b3fe0159fbda/transcript

President Donald Trump says the US has begun major combat operations against Iran. Airstrikes have been carried out by Israel and the US, with multiple provinces hit. Iran in turn has fired back at Israel and targeted US bases and assets in the region, including Bahrain, the UAE, Kuwait and Iraq. 

This comes after weeks of talks failed to produce a fresh agreement on Iran’s nuclear program. OPEC+ will consider the option of a larger supply increase when key members meet on Sunday.

This is a developing story. We are live blogging at Bloomberg.com with the latest from across the globe. You can also listen at Bloomberg News Now.

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

President Donald Trump says the US has begun major combat operations against Iran.&nbsp;Airstrikes have been carried out by Israel and the US, with multiple provinces hit. Iran in turn has fired back at Israel and targeted US bases and assets in the region, including Bahrain, the UAE, Kuwait and Iraq.&nbsp; This comes after weeks of talks failed to produce a fresh agreement on Iran&rsquo;s nuclear program.&nbsp;OPEC+ will consider the option of a larger supply increase when key members meet on Sunday.
This is a developing story. We are&nbsp;<a href="https://www.bloomberg.com/news/live-blog/2026-02-28/iran-strikes?srnd=homepage-americas">live blogging</a> at Bloomberg.com with the latest from across the globe. You can also listen at&nbsp;<a href="https://podcasts.apple.com/us/podcast/bloomberg-news-now/id1701403307">Bloomberg News Now</a>. We have a special Bloomberg subscription offer for podcast listeners at <a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>

Special Report: US and Israel Strike Iran

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/92adf941-4e17-44b6-b1af-b3ff00dc937a/transcript

There’s War in the Middle East. Why Are Oil Prices Falling?

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