Energy crisis intensifies

Thursday 16 April 2026

Day two of God Trump’s Iran blockade, and it is the worst it has been.

Bad-faith “negotiations” have, however, brought down dated Brent, as further negotiations may happen.

This is particularly stark given news that the US will not renew either Iranian or Russian oil sanctions waivers by the end of this week, taking still more oil out of the system.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.