RT
By Henry Johnston
March 9, 2026
The moment we all wondered about has come. Oil has surged past $100 per barrel and markets are coming under serious strain. When I wrote an initial reaction to the Iran war last week, markets were still clearly pricing a “nothing to see here” scenario.
With the system of global governance in shambles and institutional checks conspicuously lacking, I wrote that markets may now be the only force left capable of imposing constraint. Think of markets as a congress that has to approve a continuation of war – except this congress can’t be bought off so easily.