MacroVoices #515 Rory Johnston: Why Trump is Keeping The Oil Price High
Macro Voices
Hedge Fund Manager Erik Townsend
4.8 • 3.4K Ratings
🗓️ 15 January 2026
⏱️ 71 minutes
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| 0:00.0 | This is Macro Voices, the free weekly financial podcast targeting professional finance, |
| 0:13.2 | high net worth individuals, family offices, and other sophisticated investors. |
| 0:18.9 | Macrovoices is all about the brightest minds in the world of finance |
| 0:22.6 | and macroeconomics telling it like it is, bullish or bearish, no holds barred. Now, here are your |
| 0:29.1 | hosts, Eric Townsend and Patrick Suresna. Macrovoices episode 515 was produced on January 15, 26. I'm Eric Townsend. |
| 0:39.9 | Commodity context founder, Rory Johnston, returns as this week's feature interview guest. |
| 0:44.6 | Rory and I will discuss all things crude oil, starting with the Venezuela news and what it means for markets, |
| 0:50.6 | then moving on to Iran, the U.S. Strategic Petroleum Reserve, and much more. |
| 0:55.7 | This interview was recorded on Tuesday afternoon, so it doesn't include commentary on the |
| 1:01.0 | whipsaw in oil prices that we saw on Wednesday afternoon, which was attributable to President |
| 1:06.5 | Donald Trump, changing his statements about his intentions relative to military intervention in Iran. |
| 1:13.0 | Be sure to stay tuned after the feature interview for our postgame segment when we'll have Patrick's |
| 1:18.0 | trade of the week plus our latest perspective on all the major markets. |
| 1:21.5 | And I'm Patrick Suresna with the macro scoreboard week over week as of the close of Wednesday, January 14th, |
| 1:27.8 | 2026. The S&P 500 index up seven basis points trading at 6926. The market continues grinding |
| 1:36.3 | in a broader sector rotation. We'll take a closer look at that chart and the key technical |
| 1:41.6 | levels to watch in the postgame segment. The US dollar index |
| 1:45.8 | up 32 basis points trading at 99.05, retraced back above its 50-day moving average, begging the |
| 1:53.2 | question, is this a bounce or a reversal? The February WTI crude oil contract up 1,070 basis points to 6188, a material jump in oil prices |
| 2:05.8 | off the supports of 2025 lows. |
| 2:09.1 | The March WTI crude oil contract up 1,070 basis points trading at 6188, a material jump in oil prices off the support of its |
| 2:19.9 | 2025 lows. The March Arbob gasoline up 814 basis points training at 186. The February gold contract |
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