Odd Lots: Rory Johnston on Why Oil Didn’t Hit $200 (Podcast)

In the podcast "Odd Lots," Rory Johnston, founder of the Commodity Context newsletter, explains why oil prices didn't surge to the $200-per-barrel predictions made earlier this year, despite the Strait of Hormuz reopening. Johnston revisits his earlier analysis on how the Strait's closure could have led to such high prices if it had continued. Now that the Strait has mostly reopened, oil prices remain elevated but haven't reached those extreme levels, sparking discussions on market dynamics and geopolitical factors affecting oil supply. This insight is crucial for understanding global energy markets and the impact of geopolitical tensions.