Is the Strait of Hormuz Uninsurable? The Hidden Cost of the USA and Iran Conflict
The $98 Barrel is the Least of Our Problems: The World is Getting Smaller (and Way More Expensive)
So, everybody and their mother is freaking out about the headlines right now. We’ve got gunboats playing chicken in the Strait of Hormuz, Brent crude is knocking on the door of $100, and the diplomats in Islamabad are doing what they do best: absolutely nothing.
But while the news cycle is obsessed with the "will-they-won't-they" drama between Washington and Tehran, I think we’re missing the actual heart attack.
Look, $98 oil sucks. But the real story isn't just the price of a gallon of gas. It’s the fact that the invisible glue holding the world together the maritime insurance market is currently falling into a black hole. We are watching the permanent end of cheap, predictable trade in r...