US Launches New Iran Strikes | Radio Balance of Power: Early Edition 9/1/2026

Watch on YouTube ↗  |  September 01, 2026 at 19:13  |  51:24  |  Bloomberg Markets
Speakers
Clayton Siegel — Senior Fellow, CSIS (Energy Security)
Marlin Stutzman — Republican Congressman (Indiana's 3rd District)
Charlie Pellett — Anchor/Reporter, Bloomberg
Kailey Leinz — Bloomberg Reporter
Jeanne Sheehan Zaino — Visiting Democracy Fellow, Harvard Kennedy School Ash Center
Rick Davis — Republican Strategist, Partner at Stonecourt Capital
Madeleine Dean — Democratic Congresswoman, Pennsylvania
Nick Wadhams — Defense Lead, Bloomberg Economics

Summary

The broadcast focuses on resumed U.S. military strikes against Iranian targets around the Strait of Hormuz and the resulting spike in crude prices, with WTI near $90 and Brent above $94. It also covers President Trump's White House meeting with refiners, the House continuing-resolution vote, and midterm political fallout over gas and beef prices. Energy strategist Clayton Seigle argues the Hormuz stalemate could push oil to $100 and sees Venezuelan oilfield services as the more investable opportunity.

  • U.S. Central Command begins new strikes on IRGC targets near the Strait of Hormuz.
  • WTI crude rises over 5% to about $90; Brent trades near $94.55.
  • Equities and semiconductors sell off while two-year and 10-year yields hover around 4.38% and 4.79%.
  • President Trump meets with refiners including Chevron, Marathon, and Valero.
  • House votes on a continuing resolution to fund government through December 11.
  • Rep. Stutzman expects Argentine beef imports to help lower U.S. beef prices.
  • Clayton Seigle says oil could test $100 and favors oilfield services exposure to Venezuela.
Ideas
Marlin Stutzman Republican Congressman (Indiana's 3rd District) 15:23
Argentina beef imports lower U.S. beef prices
Removing tariffs on Argentine beef imports should increase meat-counter supply and bring down U.S. beef prices; if tariffs remained, beef prices would stay high. The U.S. cattle herd is at a 70-year low and the two-year cattle cycle makes rebuilding slow, so imports are the near-term relief valve.
COW MED
Clayton Siegel Senior Fellow, CSIS (Energy Security) 40:13
Oil could test $100 on Hormuz escalation
Seven months into the Strait of Hormuz standoff, both the U.S. and Iran think they can outlast the other; with fresh U.S. strikes and an expected Iranian response, the latest blowup was inevitable and crude prices could test $100.
WTI BNO MED
Clayton Siegel Senior Fellow, CSIS (Energy Security) 42:54
No quick U.S. refining capacity boost
U.S. refining capacity is already near maximum, no new full refineries have been built since the 1970s, and new projects are long-lead, capital-intensive and exposed to volatile refining margins; therefore Washington cannot quickly build more refining capacity to relieve product prices.
XLE MED
Clayton Siegel Senior Fellow, CSIS (Energy Security) 45:33
Oilfield services more investable in Venezuela
Venezuela's oil sector is making progress since early-year interventions, but the more investable exposure is oilfield services: service companies can deploy, generate returns and recoup investment in 3-4 years, unlike majors and integrated projects that face much longer timelines and payback periods.
SLB OIH HIGH
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This Bloomberg Markets video, published September 01, 2026, features Marlin Stutzman, Clayton Siegel discussing COW, WTI, BNO, XLE, SLB, OIH. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Marlin Stutzman, Clayton Siegel  · Tickers: COW, WTI, BNO, XLE, SLB, OIH