Oil Shock Ahead: Brandon Weichert on Middle East Escalation and the Coming Supply Crunch
Chris appears on Mario Nawfal's program to examine escalating Middle East hostilities, oil supply disruptions from strikes on Saudi infrastructure, and the risk of a major global economic contraction.
Source: Peak Prosperity
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DW NOTE
The Strait of Hormuz has been effectively closed since early October — 4 ships transiting versus the normal 85 per day — and WTI has risen only to $102. Either the market doesn't believe the closure will last, or it hasn't yet priced the inventory drawdown that becomes visible in three weeks.