A commercial ship is viewed anchored off the coast of the United Arab Emirates, in the Strait of Hormuz, Dubai, on March 2nd, 2026. . | Photo: Getty Images
Soon after the Trump administration launched its war on Iran, I called up Reed Blakemore, director of research and programs at the Atlantic Council worldwide Energy Center, to talk about the consequences. At the end of our conversation, Blakemore said plainly: “Let’s have a call again [next week] … We’ll have a much clearer picture of what the conflict is going to look like and what the story really is going to be for energy moving forward. While oil and gas prices were already on the rise, there was still more hope then that the impact of the conflict might be short-lived.
