The David Lin Report · Wednesday, July 29, 2026
Doug Casey expressed surprise at the current oil prices, noting that despite disruptions in the Straits of Hormuz and the Bab el Mandab, oil is not experiencing a significant price surge. He suggests that the market's reaction is inexplicable to specialists and himself.
“So, to me, this is actually inexplicable. And not just to me, but I haven't talked to anybody, uh, even guys that really know the oil market, specialists, that have a good explanation for why is oil not running away at this point?”
“Uh, oil and gas. And uh with the destruction of of production facilities, refining facilities. Uh, the fact that very little oil is going out through the Straits of Hormuz and through the Bab el Mandab due to the recent actions of the Houthies, you'd think that we'd be uh in a howling commodity market for oil.”