Crude Diplomacy: Oil and the Iran War

More than one month in, the United States and Israel’s war against Iran has resulted in what the International Energy Agency termed the “largest supply disruption in the history of the global oil market.” Iran’s ability to control what passes through the Strait of Hormuz has disrupted a fifth of the world's daily oil supply, along with the flow of other commodities such as helium, liquid natural gas, and fertilizer, adding to inflationary pressures globally.  Prospects for a diplomatic exit look bleak and military options to fully open the Strait presents formidable challenges. So, what does the current crisis portend for the global supply of oil and hydrocarbons? Who are the big winners and losers as the world tries to adapt to energy market disruptions? And what lessons, if any, can be drawn from the unfolding crisis? Join Aaron David Miller as he engages Helima Croft, head of Global Commodity Strategy and Middle East and North Africa (MENA) Research at RBC Capital Markets, on the current crisis and the future of oil and hydrocarbons, on Carnegie Connects.