A U.S. Army Major-General on what markets got wrong about Iran, whether the Strait was ever really at risk, and what the new U.S. strike doctrine signals to China.

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Oil briefly traded above $119 a barrel. Iran threatened to shut the Strait of Hormuz, the single chokepoint that carries roughly 20% of global oil supply. And then, just as fast, prices started pulling back, after Trump said the conflict was "almost completely over." 

But what is actually happening on the ground, what did markets get right, and what are they still missing? 

We bring in U.S. Army Major-General James "Spider" Marks, who spent over 30 years in the U.S. Army, serving as senior intelligence officer through the LA riots, the Balkans, Korea, and Operation Iraqi Freedom, and who culminated his career as commanding general of the U.S. Army Intelligence Center. With a conflict still unfolding, a regime in flux, and markets trying to price it all in real time, there may be no better person to ask.

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