Bloomberg Daybreak: Europe Edition Tanker Attacks Spike Oil, US-EU Trade Probe, Asia Faces Energy Crunch
Mar 12, 2026
Patrick Sykes, Middle East breaking news editor at Bloomberg, gives on-the-ground reporting of Iranian maritime strikes and their effects on oil shipments. He discusses how attacks pushed Brent above $100, how shipping and export curbs are disrupting flows, and the risks around naval escorts and regional energy shortages.
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Iranian Attacks Push Brent Back Above $100
- Oil spiked above $100 because Iranian attacks disrupted shipping and key export terminals.
- Oman cleared ships from Mina al-Fahal and two tankers were hit in Iraqi waters, tightening Middle East flows and sending Brent up ~10%.
Strategic Releases Won't Fix Flow Rate Bottleneck
- The IEA's 400 million barrel release is headline-sized but limited by flow rate constraints.
- Jeff Curry noted a 2 million bpd max sustainable flow, so 400m barrels equates to ~200 days of supply at that rate, diluting immediate impact.
Banks Tell Staff To Skip Dubai Offices
- Major banks told staff to avoid Dubai offices as Iran's strikes continued across the Gulf.
- Goldman Sachs and Citigroup instructed employees to stay away and offered temporary relocation options, citing safety concerns.