Oil and gas traders are confronting a potential worst-case scenario after the US-Israeli strike on Iran Saturday: the Strait of Hormuz is effectively paralyzed, Saudi Arabia’s largest refinery is shut and Iran has hit Qatar’s giant liquified natural gas export facility. On this week’s episode of Trumponomics, host Stephanie Flanders speaks to Bloomberg Opinion columnist Javier Blas and Ziad Daoud, chief emerging markets economist for Bloomberg Economics. Together they unpack the unsettlingly wide range of outcomes from the war, and how Russia will gain economically the longer the conflict continues. Read more: https://www.bloomberg.com/opinion/articles/2026-03-04/iran-war-the-most-precious-commodity-is-water-not-oil (https://www.bloomberg.com/opinion/articles/2026-03-04/iran-war-the-most-precious-commodity-is-water-not-oil) Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next. Check out more episodes of Trumponomics: https://www.youtube.com/playlist?list=PLe4PRejZgr0OF8WXDm7pQg2KFgVmeobxp Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts Visit our other YouTube channels: Bloomberg Television: https://www.youtube.com/@markets Bloomberg Originals: https://www.youtube.com/bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Visit us: https://www.bloomberg.com/podcasts Follow Bloomberg Podcasts on Twitter: https://twitter.com/podcasts For coverage on news, markets and more: http://www.bloomberg.com/video #Trump #Economy #Politics #Business #Podcast #Bloomberg Countdown to a Global Energy Shock