Young: Prolonged War Will Lead to High Gas Prices

The Iran war has put energy assets at risk in the Middle East. Limited oil price surges signal that traders are betting on a short conflict but a lengthy disruption threatens to cause chaos across markets. Meanwhile Tehran is threatening a full closure of the Strait of Hormuz and has struck various US Embassies. Karen E. Young, Senior Research Scholar at Columbia University's Center on Global Energy Policy spoke to Bloomberg's Horizons Middle East and Africa anchor Joumanna Bercetche on the effects of the regional instability on oil & gas.