“Hormuz is geography, the oil has nowhere else to go. This is policy — the volume can reroute, reshore, or get absorbed into price, it just takes 12 to 24 months of capital and requalification to do it,”

Dan Luttner · said date not stated · reported 2026-08-30

Dan Luttner contrasted policy-driven trade disputes with physical geographic chokepoints like the Strait of Hormuz.