Bloomberg Daybreak: US Edition Trump Warns Iran; Hormuz Threat Keeps Oil on Edge
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Mar 13, 2026 Paul Wallace, Bloomberg managing editor covering Middle East and Africa, gives on-the-ground analysis of the Iran war and regional fallout. He discusses Iran’s defiant messaging and threats to the Strait of Hormuz. He also breaks down strikes around Tehran, risks of new fronts including Houthi involvement, and how markets and oil are reacting to the conflict.
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Mutual Defiance Fuels Escalation
- The Iran war shows escalating public defiance from both sides rather than de-escalation.
- Iran's new Supreme Leader vowed to keep the Strait of Hormuz closed while President Trump warned of "unlimited firepower" on Truth Social.
Russian Intelligence Aids Iran
- Russia appears to be materially supporting Iran by sharing satellite imagery and drone tactics.
- Moscow supplied intelligence and helped Iran adapt drone techniques to evade Western air defenses, Bloomberg reporting says.
Hormuz Shutdown Pushes Oil Past $100
- The Strait of Hormuz disruptions are driving oil above $100 a barrel and spooking markets.
- Brent closed above $100, IEA called this the biggest disruption to the oil market in history, and US measures (like waivers) had limited impact.