Why the Iran Ceasefire Hasn’t Ended the Energy Crisis

About this episode

The episode discusses the implications of the Iran ceasefire on the energy crisis and global oil markets.

The United States and Iran have agreed to a ceasefire in Iran, and energy markets responded with jubilation — at least initially. Every major Wall Street index surged on Wednesday, and U.S. oil prices fell. But the actual situation on the ground is far more ambiguous, huge questions remain about the truce, and the Strait of Hormuz is as closed today as it has been since the beginning of the war. On this episode of Shift Key, Rob is joined by Rory Johnston, a longtime oil analyst, repeat Shift Key guest, and the author of the  Commodity Context  newsletter. We talk about why Iran gains from extending the ceasefire, where the pressure in the global energy system is building up, and what could happen next. We also talk about why the Midwest has the cheapest gasoline in the world right now. Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap News. You can find a full transcript of the episode here . Mentioned: Why the Real Oil Crisis Hasn’t Started Yet Iran’s planned toll for the Strait of Hormuz is  a $2.33 per ton carbon tax China Is the Big Winner of the Iran Ceasefire Rory’s previous appearance on Shift Key:  Why Trump’s Oil…

People in this episode

Host: Robinson Meyer

Guest: Rory Johnston

Topics covered

• Iran Ceasefire
• energy crisis
• oil markets
• global energy system
• gasoline prices

Keywords

• Iran
• energy crisis
• oil prices
• Strait of Hormuz
• gasoline prices

Sponsors

Lunar Energy

Mentioned in this episode

Organizations: Heatmap News

Books & works: Commodity Context

Places: United States, Iran, Strait of Hormuz, Midwest

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