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931 Oil at $84, LNG up 45% in Asia: Trump’s Iran strikes send shockwaves through global energy supply chains

Silicon Canals
Tommy Baker @ Silicon Canals · 03/04/2026 02:28 EDT

Oil at $84, LNG up 45% in Asia: Trump’s Iran strikes send shockwaves through global energy supply chains

The Trump administration's military strikes on Iran have sent crude oil to $84 per barrel and exposed a structural contradiction: higher prices support the 'drill, baby, drill' agenda while threatening consumers ahead of midterm elections. The real question is whether disruptions to the Strait of Hormuz — through which one-fifth of global petroleum flows — persist long enough to trigger permanent market changes.

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