How High Could Oil Prices Go?

Foreign Policy Live

Foreign Policy

News Commentary, News, Politics

4.1 • 622 Ratings

🗓️ 26 March 2026

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Crude and gas prices are soaring after the closure of the Strait of Hormuz and attacks on regional energy infrastructure amid war in the Middle East. How bad could the energy shock get and for how long? FP columnist Jason Bordoff sits down with Ravi Agrawal to discuss. Bordoff previously served in the Obama administration as a senior director for energy and climate change in the National Security Council. He is also the founding director of the Center on Global Energy Policy at Columbia University. Jason Bordoff and Spencer Dale: Making the U.S. More Resilient to Oil Price Shocks Esfandyar Batmanghelidj: The Iran War Is Jeopardizing the Entire Global Economy Jason Bordoff and Erica Downs: How the Iran War Could Consolidate China’s Energy Dominance Keith Johnson: Iran Is Putting a ‘Toll Booth’ in the Strait of Hormuz Nils Gilman: Electrostates vs. Petrostates Keith Johnson: Europe and the U.S. Still Haven’t Choked Off Russia’s Energy Riches Maisoon H. Kafafy: Empty Words Don’t Open Straits Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	There once was a woman who lived in a shoe.
0:03.0	A size too snug, but what could she do?
0:06.0	But that's not where her story ends.
0:08.0	Thanks to a little help from her Experian friends,
0:11.0	she got her score into much better shape
0:13.0	and relocated to a box fresh new place,
0:16.0	with room to grow and a mortgage to suit.
0:19.0	Now, she lives in a spacious four-bedroom cowboy boot.
0:23.3	Better your Experian credit score to help get mortgage ready.
0:26.5	Experian.
0:27.5	Better your score.
0:28.7	Better your story.
0:31.6	Hi, I'm Ravi Agrual, Foreign Policy's editor-in-chief.
0:36.2	This is FP Live.
0:45.5	We are in the greatest global energy security threat in history.
0:50.5	Those are the words of Fatih Biro, the head of the International Energy Agency.
0:52.6	And that's from last week.
0:56.7	With each passing day, as Iran continues to essentially shutter the Strait of Hormuz, global energy prices are continuing to rise. I'm recording
1:03.3	this on Thursday, March the 26th. Brent Crude, the main benchmark for oil, is up 78% this year.
1:12.5	That's a direct hit on individual pocketbooks.
1:16.3	In the United States, the cost of gas at the pump is up by 34% since the war began.
1:22.2	Diesel, which powers most freight trucks, is up by 43%.
	...

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