economy
March 13, 2026
Why I'm not 'Panican' over oil markets
Not quite a fortnight into Operation Epic Fury against Iran, and markets still haven’t decided whether President Donald Trump has launched us into World War III. But that hasn’t stopped liberals and their media stenographers from praying that oil markets collapse amid the U.S.-Israel strikes against the Shia Islamic theocracy and its fledgling nuclear program.
TL;DR
- Oil prices initially surged but have since fallen below $100 per barrel, contrary to fears of a World War III scenario.
- The media's narrative blaming inflation solely on the Ukraine war is disputed; the American Rescue Plan is cited as a primary cause.
- US becoming a net oil exporter under Trump has reduced vulnerability to global oil price fluctuations.
- Venezuela is resuming crude oil exports to the US, adding to global supply.
- International Energy Agency members are releasing oil from strategic reserves.
- Iran's naval and missile capabilities have been significantly degraded by US and allied strikes.
- Iran's potential disruption of the Strait of Hormuz would be economically self-destructive.
- The US economy is more insulated from oil price volatility due to decreased oil consumption and overall economic growth.
- The author advises against 'Panican' behavior and suggests considering short positions in oil markets for the long run.
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