Bulwark Takes BREAKING: Massive Oil Price Increases
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Mar 9, 2026 They unpack a sudden crude price spike and the market reactions it triggered. They trace how logistics, tanker insurance, and strikes in the region are driving short-term supply shocks. They debate political motives and potential electoral or emergency consequences of escalating conflict. They consider military options to secure waterways and whether soaring oil will push renewed interest in renewables.
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Sudden Oil Spike After Iran Conflict
- Oil futures spiked from around $70–90 to over $100 per barrel within minutes after the Iran conflict news.
- Tim Miller and Jonathan V. Last describe the jump as an unprecedented, rapid market reaction that immediately pressures consumer gas prices and the economy.
Supply Chain Disruption Fuels Price Spike
- The price surge is driven mainly by a logistical disruption, not a permanent shortfall in wells.
- Jonathan V. Last explains halted shipping, stopped refineries and lost maritime insurance create temporary scarcity that propagates through the supply chain.
Strait Of Hormuz Amplifies Small Supply Shocks
- Geography makes Iran outsized: control of the Strait of Hormuz amplifies modest production changes into big global price shocks.
- Tim Miller compares past Iranian disruptions (1979 revolution, Iran–Iraq war) to today, noting transit chokepoints matter more than percent of output.