US President Donald Trump remains focused on regime change in Iran rather than any near-term de-escalation, Adam Dixon, Chair & Director at Adam Smith’s Panmure House, told CNBC-TV18, as the conflict entered its 21st day with fragile calm in energy markets.
“I don’t think Donald Trump is willing to allow his legacy to be one where an Iranian regime… continues,” Dixon said, adding the US and Israel are “committed to regime change” and in it “for the long run”. While an understanding to avoid targeting oil and gas assets may hold, he noted both sides have signalled their ability to hit energy infrastructure, making restraint likely.
The backdrop remains volatile after Israeli strikes on Iran’s South Pars gas field triggered retaliatory attacks on key Gulf facilities, including Ras Laffan in Qatar, the world’s largest LNG plant. Israeli Prime Minister Benjamin Netanyahu has since said further strikes would be held off at Washington’s insistence.
Paolo Napolitano of Dragonfly Intelligence said the pause has cooled oil prices by about 2%, but warned it “is probably not the beginning of de-escalation”. Judah Taub of Hetz Ventures added that long-term outcomes will outweigh short-term market moves, even as Saudi estimates flag a potential spike to $180 per barrel if the conflict drags on.
First Published: Mar 20, 2026 7:19 PM IST
