General Discussion

The Iran war, oil and the crisis of American imperialism

Gabriel Black
World Socialist Web Site, April 13, 2026

The US war on Iran will be remembered as a turning point in the crisis of American imperialism. Seven weeks into a conflict that has killed several thousand Iranians and nearly 2,000 Lebanese, the actual strategic result has been the opposite of what Washington intended. Far from reasserting American dominance over the Persian Gulf, the war has both exposed and deepened the declining ability of the United States to rule the global capitalist system.

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An essential aspect of Trump’s contradictory messages throughout the war—threatening to obliterate Iranian civilization one moment and calling a ceasefire the next—is that he is disturbed by the lack of success of the operation and the reaction of global markets to it. He is fumbling for ideas as he buys time. The spot price for physical oil cargoes has effectively doubled since the war began. US gasoline has crossed $4 a gallon for the first time since 2022. Stock markets have posted their worst quarter since 2022.

There is a panic in the ruling class that this war will yield a win for Iran, prompting Democrats, such as Pete Buttigieg on CNBC last Friday morning, to suggest a further escalation of the war to achieve regime change.

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https://www.wsws.org/en/articles/2026/04/14/The%20-a14.html