WSJ Opinion: Potomac Watch The Iran War Roils Oil Markets as Gasoline Prices Rise in the U.S.
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Mar 9, 2026 War between the U.S., Israel and Iran shakes global oil markets and spikes U.S. gasoline prices. Discussion covers possible Russian assistance to Iranian targeting and Iran naming Khamenei’s son as successor. Analysis explores the risk to shipping through the Strait of Hormuz and what military aims might count as success.
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U.S. Strategy Focuses On Degrading Capabilities Not Regime Change
- The U.S. campaign aims to degrade Iran's missile and drone capacity rather than topple the regime.
- Kate Batchelder-Odell says strikes targeted production, launchers, and infrastructure to change Iranian behavior, not necessarily force regime change.
Succession Reinforces Continuity In Iran's Leadership
- Iran named Muqtada Khamenei, son of the late Ayatollah, signaling continuity rather than reform.
- Joe Sternberg notes the choice likely reflects a compromised pick amid a shrinking leadership pool after strikes and domestic unrest.
Russian Support Appears To Bolster Iran's Military Targeting
- Evidence suggests Russia has provided intelligence and training to Iran, aiding targeting and drone tactics.
- Kate cites Iran sending trainers to Crimea and Russia supplying training and cash for drones as indicators of deep cooperation.