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Crude Diplomacy: Oil and the Iran War
Tue, April 7th, 2026
10:00 AM - 10:45 AM (EDT)
Live Online
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More than one month in, the United States and Israel’s war against Iran has resulted in what the International Energy Agency termed the “largest supply disruption in the history of the global oil market.” Iran’s ability to control what passes through the Strait of Hormuz has disrupted a fifth of the world's daily oil supply, along with the flow of other commodities such as helium, liquid natural gas, and fertilizer, adding to inflationary pressures globally. Prospects for a diplomatic exit look bleak and military options to fully open the Strait presents formidable challenges. So, what does the current crisis portend for the global supply of oil and hydrocarbons? Who are the big winners and losers as the world tries to adapt to energy market disruptions? And what lessons, if any, can be drawn from the unfolding crisis?
Join Aaron David Miller as he engages Helima Croft, head of Global Commodity Strategy and Middle East and North Africa (MENA) Research at RBC Capital Markets, on the current crisis and the future of oil and hydrocarbons, on the next Carnegie Connects.
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
Event Speakers
Aaron David Miller
Senior Fellow, American Statecraft Program
Aaron David Miller is a senior fellow at the Carnegie Endowment for International Peace, focusing on U.S. foreign policy.
Helima Croft
Managing Director, Head of Global Commodity Strategy and MENA Research, RBC Capital Markets
Helima Croft is a managing director and the head of Global Commodity Strategy and Middle East and North Africa (MENA) research at RBC Capital Markets. She specializes in geopolitics and energy, leading a team of commodity strategists that cover energy, metals, and cross‐commodity investor activity.