Valuetainment "Oil Above $200!” - Iran THREATENS Global Oil Supply After Hormuz Attacks
Mar 14, 2026
Tom Ellsworth, market commentator who links history to today, joins to unpack Hormuz tanker attacks and volatile oil swings. He draws parallels with 1980s tanker wars. They discuss U.S. gas pricing moves, military escort options, reserve releases and Iran’s $200 oil threat. The conversation highlights seasonal vulnerabilities and the rising short-term cost of conflict.
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Perception Drives Short Term Oil Swings
- Oil market moves are driven more by perception and uncertainty than fundamentals in the short term.
- Tom Ellsworth compares current Strait of Hormuz attacks to the 1987 tanker wars where sentiment sent markets sharply down despite lower underlying oil prices.
1987 Tanker Wars Example
- Tom Ellsworth recounts the 1987 Iran-Iraq tanker wars where U.S. convoys were required after mines and attacks.
- He notes 1987 WTI was $10–$12, illustrating how a similar conflict then still moved markets dramatically after Navy escorts were needed.
Escorts And Insurance Can Skyrocket Shipping Costs
- Military protection and insurance changes quickly alter shipping costs and oil flows during Gulf conflicts.
- Patrick Bet-David and Tom discuss Operation Earnest Will and how insurance rates spiked 400% when escorts became necessary.