Bloomberg Daybreak: Asia Edition Trump Signals Possible End to Iran War, Stocks Rebound, Oil Plunges
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Mar 10, 2026 Craig Foster, former Australian captain turned human rights advocate for athlete welfare. Stephen Stapczynski, Bloomberg Asia energy lead with oil market expertise. They discuss market swings after Iran strikes. They explain Strait of Hormuz supply risks, global oversupply’s cushioning effect, and how volatility and infrastructure attacks shape Asia’s energy pain.
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Strait Of Hormuz Shutdown Creates Unprecedented Oil Anxiety
- Oil-market anxiety rose because the Strait of Hormuz has been effectively shut for over a week, creating unprecedented disruption to seaborne flows.
- Stephen Stapczynski notes the Strait handles about one-fifth of global seaborne oil and the market is unsure how long the closure will last.
Global Glut Is Muting The Shock Of Middle East Disruption
- A global oil glut is cushioning the immediate shock, limiting price reaction compared with past crises like 2022.
- Stapczynski points to OPEC+ adding supply and strong U.S. output as reasons markets can
Volatility Returns With Large Intraday Oil Swings
- Volatility has returned to oil markets, with a $38 intraday WTI swing after prices spiked near $120 then fell toward $80.
- Stapczynski attributes this to unknowns, algorithmic trading, and traders latching onto political statements.