Oct 9, 2026 · 23 min · 12 segments
Oil futures are not oil prices and oil prices are not diesel, gas or plastics prices. A lot of the focus is on the Strait of Hormuz, but there are other factors and a slightly more complex set of…
John WardleHostBradHostJakeHost
Um, this, uh, from CNBC, like we're, we're hearing, you see, like Brad mentioned in our, in one of our other videos, uh, the price of oil is futures are staying about the same.
Hey, everybody.
You see the contract price come up 90, 95, 100 bucks a barrel.
But there's a whole different side to the oil market that you might not be thinking about, and that is the price of moving oil around the world, especially by ship.
Listen to this.
I've got a source who is a ship broker.
He helps companies charter giant supertankers.
This is unbelievable.
He told me this morning that he had a ship chartered, the Alexandros is the name of the ship, and the charter is from the US Gulf Coast, basically like the Houston area, to China.
The cost of that charter, which was done by Trafigura, which is an oil trading company, $76 million.
The normal rate before the Iran war began, seven to 10 million.
It is 10 times as expensive to charter a ship than it was before the war began.
He had another name a couple of hours ago, 77 million for a similar route.
So don't just pay attention to the price that we show you on the screen.
You got-
And it's odd, Brad, Jake, that these oil future prices are so low all the time, isn't it? Like, they just seem so low, and it just doesn't seem to be connected to reality in any way.
Oh, gotta be.
Um, this, uh, from CNBC, like we're, we're hearing, you see, like Brad mentioned in our, in one of our other videos, uh, the price of oil is futures are staying about the same.
Hey, everybody.
You see the contract price come up 90, 95, 100 bucks a barrel.
But there's a whole different side to the oil market that you might not be thinking about, and that is the price of moving oil around the world, especially by ship.
Listen to this.
I've got a source who is a ship broker.
He helps companies charter giant supertankers.
This is unbelievable.
He told me this morning that he had a ship chartered, the Alexandros is the name of the ship, and the charter is from the US Gulf Coast, basically like the Houston area, to China.
The cost of that charter, which was done by Trafigura, which is an oil trading company, $76 million.
The normal rate before the Iran war began, seven to 10 million.
It is 10 times as expensive to charter a ship than it was before the war began.
He had another name a couple of hours ago, 77 million for a similar route.
So don't just pay attention to the price that we show you on the screen.
You got-
And it's odd, Brad, Jake, that these oil future prices are so low all the time, isn't it? Like, they just seem so low, and it just doesn't seem to be connected to reality in any way.
Oh, gotta be.
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