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Listen: Iran waivers have ended — is the muted price reaction an illusion?

On this week's podcast we speak with Henry Rome, an Iran analyst with the Eurasia Group, about why the global oil market is not as stable and well-supplied as the Trump administration wants the world to believe.

Rome sees a supply crunch only getting worse and a $5/b increase looming ahead of the US summer driving season.

Rome talks about just how much oil Iran will continue to export (it will not be zero), whether China will comply with US sanctions, and why we may be overlooking major threats to supply by focusing on Iran's threats to close the Strait of Hormuz.