The Strait of Hormuz is dominating financial headlines but screen prices are telling a different story. Dr. Amrita Sen of Energy Aspects joins host Dustin Reid to explain why physical cargo markets are trading ten to fifty dollars above published crude benchmarks, what that divergence means for gasoline, diesel, jet fuel, and LNG, and why a reopening of the strait would not restore flows anywhere near pre-conflict levels.

Dustin and Prerna Mathews close with the portfolio implications: real assets, inflation-linked bonds, and a higher-for-longer rate environment well into 2027.