PodcastExchangesOctober 23, 2026
Why Oil Prices Are Surging Despite Recovering Supply
Oil's surge to $112 reflects a $27/barrel fear-driven risk premium, not an actual supply shortage, says Goldman's Daan Struyven.
- Brent at $112 despite supply rebound: Middle East crude exports are back to ~110% of 2025 averages, yet prices jumped on a risk premium Struyven pegs at ~$27/barrel.
- Precautionary buying on both sides: Refiners are stockpiling crude fearing shipping attacks and Houthi infrastructure strikes, while institutional investors buy oil to hedge bond/equity exposure.
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Themes, sentiment and reasons are AI-written paraphrases, checked so they never quote an episode. They may contain errors. Not investment advice. Episodes remain the property of their creators.