Ryan Bridge: The oil price danger zone for inflation

Early Edition with Ryan Bridge · Mar 3, 2026 · 2m · transcript

If this is still going on in two or three weeks, lots of countries, including ours, will start to feel the pinch.

Brent Crude Futures topped out at $85 a barrel overnight, the highest price since 2024.

JP Morgan says it could hit, worst-case, $120.

The Iraqis are now pulling back production because of the Hormuz logjam.

Refineries in Asia are, according to Bloomberg, thinking about cutting production by 20-30% for the same reason.

You've got tankers backing up and unable to port.

All this stuff means delays.

Our economy is quite dependant on oil and gas. It's a common misconception that we…