Bloomberg Daybreak: Europe Edition Trump Expands Iran War, Conflict Drives Oil Spike, Dubai’s Worst Nightmare
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Mar 2, 2026 Stuart Livingston-Wallace, Bloomberg’s regional chief reporting live from the Middle East, gives on-the-ground analysis of strikes across the Gulf and their fallout. He covers Iran’s leadership uncertainty, coordinated Western military moves, the shock to oil and gas markets, widespread travel chaos, and the damage and defenses around Dubai. Short, urgent scenes from a region on edge.
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US Frames Strikes As Sustained Regime Pressure
- President Donald Trump framed the US-Israeli strikes as a sustained campaign until Iranian leaders capitulate.
- Trump said hundreds of targets were hit and reconfirmed Ayatollah Khamenei's death, linking strikes to preventing an Iran with nuclear capability.
Europe Offers Support Without Offensive Commitment
- European states avoided direct involvement in strikes but offered limited support like base access to the US.
- The UK allowed US use of British bases specifically to target Iranian missile depots while refusing offensive action, per Keir Starmer.
Oil Prices Surge As Hormuz Transit Halts
- Oil and tanker traffic disruption drove a sharp price spike, with Brent jumping as much as 13% to near $78 a barrel.
- Tanker traffic through the Strait of Hormuz largely stopped after reported attacks on vessels and claims US forces sank Iranian naval ships.