Global oil exposure and contingency reserves

The US-Israeli war with Iran has no end in sight as strikes on both sides continue. With Iran's capitulation failing to materialize and the IRGC's true strength revealed, the conflict is in a state of evolution. On this episode of Talking Geopolitics, GPF Chairman George Friedman joins host Christian Smith to discuss shifting US war aims, the rising price of oil as the Strait of Hormuz remains a critical chokepoint, and just how long this all might last. Visit http://www.geopoliticalfutures.com for world-class geopolitical analysis and discussion, and to access our full 2026 Forecast: Re-anchoring the World.