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The views expressed on this podcast are those of the participants, not of Rogers News.

It's been 57 days since the Strait of Ormuse, through which a fifth of the world's oil

and gas shipments typically flow was effectively closed to regular traffic.

As we record on Tuesday, April 28th, a tenuous ceasefire ostensibly holds in place, even as negotiations to conclude a peace

between the United States and Iran seems to be going nowhere. With explosive mines now in

place in the waterway, a U.S. blockade sitting on the other side and infrastructure across the

region ravaged, the rest of the world can only wait for the inevitable.

That is, the emergence of cripplingly painful energy shortages. What they might look like

is the subject of this week's viewsroom. It's Amy. And it's Jonathan, and this is the

Viewer Room, your weekly dive into the most pressing

topics in economics and finance.

And Amy, this seems like it's about to be the biggest issue just about everywhere and soon.

The oil market has hung in this odd form of suspension ever since the United States and

Israel attacked Iran, with Brent crude gyrating around about the $100 per barrel mark, sometimes higher, sometimes lower.

And while that's high compared to recent history, and you go back a decade or so, and this was pretty much like deregour.

Like, shockingly, despite the, what looks on paper to be a colossal loss to global energy supplies, prices just really have not moved

...