Oil, Iran, and the $3–$4 Risk Premium Markets Can’t Ignore cover art

Oil, Iran, and the $3–$4 Risk Premium Markets Can’t Ignore

Oil, Iran, and the $3–$4 Risk Premium Markets Can’t Ignore

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Oil prices are moving — but not because barrels have disappeared.

In this episode of Error 404: Searching for Logic, we break down how unrest in Iran is injecting a geopolitical risk premium into oil markets, why the Strait of Hormuz remains the ultimate chokepoint, and what really matters for prices next.

We unpack:

  • Why oil can rise without a physical supply disruption

  • How a $3–$4 risk premium gets priced in

  • The role of shipping, sanctions, and insurance costs

  • Why inventories and soft fundamentals are still pulling the other way

  • What signals turn fear into real price moves — and which headlines don’t

Volatility isn’t direction. And in energy markets, probability × impact is everything.


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