The Global Gambit

Why Didn't Oil Prices React to the Middle East Crisis?

The Global Gambit

Show Notes

Summary

This conversation delves into the intricate relationship between energy geopolitics and conflict, particularly focusing on the Iran-Israel tensions and the implications for global oil markets. Anas Al-Hajji provides insights into the strategic importance of the Hormuz Strait, the dynamics of oil pricing, and the roles of major players like the US and Russia in shaping energy policies. The discussion also highlights the future of energy demand in light of climate change and technological advancements, emphasizing that the world cannot overlook Iran's potential in the energy sector.

Dr. Anas F. Alhajji is a leading energy economist and former chief economist at NGP Energy Capital, known for his global expertise in oil markets, energy policy, and macroeconomic strategy. Subscribe to Substack Read as well as listen as l overthink for you: https://substack.com/@pyotrskurzin

Follow The Show X/Twitter: https://twitter.com/PKurzin YouTube: https://www.youtube.com/channel/UC7-TPqKMViddKZeo4K2P2jg/

Support The Show Patreon: https://www.patreon.com/theglobalgambit Buy Me a Coffee: https://www.buymeacoffee.com/theglobalgambit

Leave a quick rating—it's free, easy, and honestly, the least you can do after I've blessed your ears with such wisdom. Where would you be without me? Hosted on Acast. See acast.com/privacy for more information.

More from The Global Gambit

Oct 12, 2026

Weeks after signing a sweeping sanctions law against Russia’s energy revenues, Donald Trump has struck a deal to buy Russian diesel, announced while his envoys sat down with Ukrainian officials to discuss ending the war. Trump calls it a win. In Moscow, it looks like something else entirely.

Sep 29, 2026

Ukraine has transformed Russia’s vast geography from a source of strategic depth into a growing vulnerability. Its long-range drones are striking oil refineries, supply lines and military infrastructure, while Crimea is becoming increasingly difficult for Moscow to defend and sustain.

Sep 24, 2026

Russia’s war in Ukraine has done more than redraw Europe’s security map. It has exposed the limits of military alliances—and triggered a potentially dangerous chain reaction far beyond the battlefield.

Sep 14, 2026

General Ben Hodges says Russia is already at war with Europe. Not with missiles striking NATO cities, but through drones, sabotage and attacks designed to frighten populations and weaken support for Ukraine. So why are European governments still reluctant to impose meaningful consequences?

Sep 10, 2026

Iran has been militarily devastated — and yet, six months on, it may be winning. General David Petraeus argues that Tehran's control of the Strait of Hormuz has become a "weapon of mass disruption" more powerful than the nuclear program the war was meant to destroy.

See all episodes →