{"id":59688,"date":"2026-03-12T05:38:22","date_gmt":"2026-03-12T09:38:22","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/global-energy-crisis-deepens-as-idf-strikes-iran-trump-weighs-export-bans-amid-largest-ever-oil-disruption\/59688\/"},"modified":"2026-03-12T05:38:22","modified_gmt":"2026-03-12T09:38:22","slug":"global-energy-crisis-deepens-as-idf-strikes-iran-trump-weighs-export-bans-amid-largest-ever-oil-disruption","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-energy-crisis-deepens-as-idf-strikes-iran-trump-weighs-export-bans-amid-largest-ever-oil-disruption\/59688\/","title":{"rendered":"Global Energy Crisis Deepens as IDF Strikes Iran; Trump Weighs Export Bans Amid &#8220;Largest Ever&#8221; Oil Disruption"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>The International Energy Agency (IEA) has declared the war in the Middle East the &quot;largest supply disruption in the history of the global oil market,&quot;<\/strong> with Gulf countries cutting production by at least <strong>10 million barrels per day (bpd)<\/strong>.<\/li>\n<li><strong>The Israel Defense Forces (IDF) launched large-scale strikes across several areas in Iran<\/strong>, significantly escalating regional hostilities and threatening critical shipping lanes in the Strait of Hormuz.<\/li>\n<li><strong>Former President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> is reportedly exploring U.S. export restrictions<\/strong> to curb surging domestic prices, fearing that high gasoline costs and market volatility pose a &quot;political danger&quot; to his standing.<\/li>\n<li><strong>Global oil supply forecasts for 2026 have been slashed to 1.1 million bpd<\/strong> (down from 2.4 million), while demand growth was lowered to <strong>640,000 bpd<\/strong>, as the IEA warns of extreme vulnerability in diesel and jet fuel markets.<\/li>\n<li><strong>Eli Lilly (<a href=\"\/stock\/LLY\">LLY<\/a>) issued a public safety warning<\/strong> regarding compounded versions of its blockbuster drug tirzepatide, specifically those mixed with Vitamin B12.<\/li>\n<\/ul>\n<h2>Middle East Conflict Triggers Historic Oil Shock<\/h2>\n<p>The global energy landscape shifted violently on Thursday as the <strong>IDF began large-scale strikes in several areas in Iran<\/strong>, marking a massive escalation in the regional conflict. The <strong>International Energy Agency (IEA)<\/strong> warned that the war is now causing the <strong>biggest-ever disruption to the oil market<\/strong>, surpassing previous historical shocks.<\/p>\n<p>According to the IEA&#39;s latest report, <strong>Gulf countries have already cut total oil production by at least 10 million bpd<\/strong>. The agency cautioned that these losses are set to increase unless shipping flows through the region are rapidly restarted. <em>The IEA also noted that shut-in upstream production could take weeks or even months to return to pre-crisis levels.<\/em><\/p>\n<p>In response to the supply crunch, the IEA drastically revised its 2026 outlook. <strong>World oil supply is now expected to rise by only 1.1 million bpd<\/strong>, a sharp decline from the previous forecast of <strong>2.4 million bpd<\/strong>. Similarly, <strong>2026 global oil demand growth was lowered to 640,000 bpd<\/strong>, down from <strong>850,000 bpd<\/strong>, as flight cancellations and supply chain disruptions take a toll on consumption.<\/p>\n<h2>Trump Considers Export Bans to Combat Price Surges<\/h2>\n<p>Domestically, the political fallout from the energy crisis is intensifying. Sources report that <strong>Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> is exploring drastic measures to ease the surge in prices<\/strong>, including potential <strong>restrictions on U.S. exports<\/strong>.<\/p>\n<p>Insiders suggest that <strong>Trump fears the markets could turn against him<\/strong>, viewing high gasoline prices as a primary political threat. <em>The move toward protectionist energy policies reflects a growing desperation to stabilize domestic inflation as global supply chains buckle under the weight of the Iran-Israel war.<\/em><\/p>\n<h2>Trade Tensions and Corporate Warnings<\/h2>\n<p>The geopolitical instability is spilling over into international trade relations. The <strong>EU Parliament Trade Committee Chair<\/strong> warned that any U.S. actions departing from existing EU-US trade deals\u2014specifically regarding the <strong>Section 301 tariff probe<\/strong>\u2014would be deemed <strong>&quot;unacceptable.&quot;<\/strong><\/p>\n<p>In the corporate sector, <strong>Eli Lilly (<a href=\"\/stock\/LLY\">LLY<\/a>)<\/strong> issued a safety alert to patients and providers. The pharmaceutical giant is warning against the use of <strong>compounded tirzepatide mixed with Vitamin B12<\/strong>, citing potential safety risks. <em>The warning comes as the company seeks to protect the integrity of its weight-loss and diabetes franchise amid a surge in unauthorized compounded alternatives.<\/em><\/p>\n<h2>Market Reactions and Economic Data<\/h2>\n<p>The ongoing disruption in the <strong>Strait of Hormuz<\/strong> has sent <strong>U.S. fertilizer stocks<\/strong> higher in <a href=\"https:\/\/stockmarketwatch.com\/markets\/pre-market\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">premarket<\/a> trading, as investors anticipate supply shortages for agricultural inputs. Meanwhile, a drone reportedly fell on the facade of a building on <strong>Shaikh Zayed Road in Dubai<\/strong>, though the Dubai Media Office confirmed that <strong>no injuries were reported<\/strong>.<\/p>\n<p>On the economic front, <strong>Italy\u2019s Q4 unemployment rate fell to 5.6%<\/strong>, outperforming the previous revised figure of <strong>6.0%<\/strong>. In South Africa, the <strong>Q4 Current Account Balance<\/strong> swung to a <strong>50 billion ZAR surplus<\/strong>, significantly beating estimates and representing <strong>0.6% of GDP<\/strong>, a marked improvement from the previous <strong>-0.7%<\/strong> deficit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The International Energy Agency (IEA) has declared the war in the Middle East the &quot;largest supply disruption in 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