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Business & Finance

Odd Lots: Rory Johnston on Why Oil Didn’t Hit $200 (Podcast)

Bloomberg Markets Friday 26 June 2026, 08:00 UTC By Tracy Alloway, Joe Weisenthal 1 min read
Key Points

Odd Lots:Rory Johnston on Why His $200 Oil Prediction Didn't Turn Out Odd Lots Rory Johnston on Why His $200 Oil Prediction Didn't Turn Out The Strait of Hormuz has (mostly) re-opened!

Odd Lots:Rory Johnston on Why His $200 Oil Prediction Didn't Turn Out Right Odd Lots Rory Johnston on Why His $200 Oil Prediction Didn't Turn Out Right The Strait of Hormuz has (mostly) re-opened! Crude prices are still up since the start of the war, but popular predictions earlier this year of $200-a-barrel Brent didn't pan out. Why is that? We last talked to Rory Johnston, the founder of the Commodity Context newsletter, at the start of the conflict. And in that conversation he said that the Strait's closure would lead to $200 oil if it persisted for any length of time. Today, he returns to tell us what he's learned about the oil market since then. He explains the various factors that kept a lid on prices, including some re-routing, Trump jawboning, and (crucially) surprise import reductions from China. Jun 26, 2026
Rory Johnston (PERSON) Hormuz (LOCATION) Brent (ORG) the Commodity Context (ORG) Strait (LOCATION) Trump (ORG) China (LOCATION) Jun 26, (PERSON)
Originally published by Bloomberg Markets Read original →

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