Cryptooman

The oil market has been roiled by the Iran war, with prices swinging wildly. For regions most dependent on Gulf exports, the strain is already apparent, with wider, global implications on the horizon.

Oman's key oil export terminal was evacuated and two crude tankers were hit in Iraqi waters, as risks to global energy supply from the Middle East war deepened. Ships were ordered to leave the port of Mina Al Fahal in Oman as a precautionary measure, according to people who directly received a notice from a port agent. The attacks on the vessels off the coast of Iraq also prompted the nation's oil terminals to suspend operations. he latest developments point to an increase in retaliatory attacks from Iran, adding to pessimism that the war will persist for longer. Our EMEA News Director Will Kennedy joined Stephen Carroll and Caroline Hepker on Bloomberg Radio to discuss.

The US-Israeli attacks on Iran have triggered a regional crisis and sent energy prices skyward. In the US, President Donald Trump's decision to go to war also could hurt his party in an election year.