Real Vision: Finance & Investing Oil Risk Returns, but Do Markets Even Care?
Apr 20, 2026
They unpack the geopolitical fallout from renewed Iran tensions and how shipping through the Strait of Hormuz is being affected. The conversation covers jet fuel shortages in Europe and potential impacts on summer travel. They debate why markets rallied despite conflict and how liquidity, SOFR and banking reforms are reshaping risk and leverage. Expect discussion of growth signals and central bank policy risks.
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Psychedelics Executive Order Boosted Personal Portfolio
- Mikkel Rosenvold joked he's in a great mood due to psychedelics-related portfolio gains after political moves.
- He links Joe Rogan and an executive order on psychedelics to positive stock moves for his holdings.
Western Economies Use Less Oil Per Unit Of GDP
- Western economies are structurally less dependent on oil today than decades ago.
- Andreas Steno Larsen cites higher GDP per energy unit and a shift to services plus offshored manufacturing as the drivers.
Hormuz Disruption Threatens European Jet Fuel Supply
- Europe faces jet fuel tightness because ~20–25% of supply originates via the Strait of Hormuz.
- Andreas warns storages could deplete by August under a 50% blockade, prompting price-driven demand destruction (fewer flights).