How the war in the Middle East could spiral into an energy crisis
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What is the main topic discussed in this episode?
Good morning. The war that began in Iran spreads through the Gulf. We'll bring you up to speed. Meanwhile, Trump welcomes one European leader to the White House, then threatens to cut off trade with another. And The Washington Post explains how the closure of one narrow shipping route could turn the conflict into a global energy crisis.
Ultimately, if this conflict is not resolved soon and the Strait is not secured, it'll have major pressures, upward pressures on oil prices.
What recent events have escalated the conflict in the Middle East?
It's Wednesday, March 4th. I'm Cecilia Ley, and this is Apple News Today. The sounds of missiles and explosions filled the skies across the Middle East yesterday as the fast-moving conflict widened. Last night, Israel began what it described as a new broad wave of attacks on Iran. Their strikes yesterday targeted infrastructure and hit the leadership's compound. In total, the U.S. said it had struck nearly 2,000 targets so far, and an Iranian-based humanitarian group says the death toll there stands at nearly 800. Crowds gathered for funerals held for the people killed in a strike that hit a girls' school in southern Iran. State TV showed hundreds of mourners carrying small coffins draped with the flag of the Islamic Republic.
Speaking to reporters yesterday, Trump suggested that the attacks over the past few days had effectively neutralized the regime's army.
They have no Navy.
How could the Strait of Hormuz impact global energy prices?
It's been knocked out. They have no Air Force. It's been knocked out. They have no air detection. That's been knocked out. Their radar has been knocked out. And just about everything's been knocked out.
Even so, Iran appears to be moving forward with its strategy to focus attacks in neighboring territories. Last night, Iran hit a U.S. base in Qatar, the largest U.S. base in the Middle East, though no casualties were reported. Iran has dispatched around 400 missiles and 800 drones in the past two days, the majority of which have been intercepted. Drones hit the U.S. consulate in Dubai yesterday, and The Washington Post reported a suspected drone attack on the CIA station at the U.S. embassy in Saudi Arabia. Neither appeared to leave casualties. But the strikes have forced embassies to close indefinitely, leading to a frantic rush to exit the region. Yesterday, the State Department said that more than 9,000 Americans had been evacuated so far.
Meanwhile, the Trump administration's case for the war faces growing scrutiny. On Monday, Secretary of State Marco Rubio had suggested the U.S. preemptively attacked Iran in anticipation of a unilateral Israeli strike. But yesterday, he attempted to downplay those comments, saying that it was Trump's call, independent of any potential Israeli action.
The president of the United States made a decision. This is intolerable. Iran cannot have these missiles, cannot have these drones, cannot threaten the world. The president said this is the weakest they've ever been. If we don't hit them now, a year from now, a year and a half from now, no one will be able to touch them and they'll be able to do whatever they want.
Senators had a closed-door briefing with White House officials on Tuesday. Democrat Chris Murphy emerged from the briefing frustrated with what he'd heard.
They told us in there that this is an open-ended operation that hasn't even really started in earnest yet. There will be more Americans killed. They refuse to take off the table the insertion of ground troops. This is going to make the operation in Libya look like child's play. There is no question this is war.
Trump officials told reporters yesterday that there has been no contact, direct or back-channel, with the regime since the strikes began.
While the fighting is currently contained in the Gulf and Middle East, the economic consequences of the war are starting to feel global. Stocks have dipped in recent days as oil prices have climbed. Trump conceded as much at the White House yesterday.
I tell you what, I have never had more compliments on something I did. People felt it's something that had to be done. So if we have a little high oil prices for a little while, but as soon as this ends, those prices are going to drop, I believe, lower than even before.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:05–0:33
2
What recent events have escalated the conflict in the Middle East?
0:33–1:43
3
How could the Strait of Hormuz impact global energy prices?
1:43–5:21
4
What are the implications of the U.S. military's involvement in the region?
5:21–14:44
Speakers
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