Oil prices are rising? Really? Brent can’t even limp its way to 70 dollars, and WTI is hovering so close to 60 it’s practically begging for life support. That’s not “rising”—that’s stagnation dressed up as drama. It looks no different from last week, or the week before, or last year. The hard fact is this: all these wars—the one in Ukraine, the endless convulsions in the Middle East, the India–Pakistan sabre-rattling, the South China Sea theatrics—have had exactly zero impact on oil prices.
If geopolitics actually mattered the way the talking heads claim, we’d be staring down crude at $250 a barrel, and that’s before factoring in the highest inflation in half a century. Instead, what we get is analysts peddling their favorite voodoo, rattling the bones and calling it insight. It’s snake oil—and they’ve been selling it so long they probably believe their own pitch.A one-dollar twitch in the charts? That could be because someone drew down a stockpile. Or because the chief analyst at some firm let out a fart during the morning briefing. Enough of this nonsense. The price of oil doesn’t dance to their prophecies; it yawns in their faces.