Despite President Donald Trump’s blustering that America benefits when oil prices surge, crunch time is fast approaching for both the war and the energy market. He either ends the conflict quickly, or sky-high energy costs will force him to do so. The oil market may not have the same fearsome reputation as the bond market but, trust me, it can be equally savage in twisting a politician’s arm.

 

The White House's Oil-Restraint Toolbox Is Empty

March 13, 2026 at 12:00 AM EDT

Updated on 

March 13, 2026 at 3:00 AM EDT

By Javier Blas

Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.”