Geopolitics
The World's Most Important 60-Day Trade
The U.S.–Iran oil waiver may lower inflation risk. But renewed attacks in Hormuz show why universal owners should watch insurance, payment channels and Gulf fiscal pressure — not just Brent.
Topic
Energy
Coverage, charts, video and research on Energy for universal owners.
Latest in Energy
How one chokepoint is repricing global risk
The closure of the Strait of Hormuz is rippling through energy and financial markets, driving repricing pressure across shipping, insurance, inflation and investment risk.
The Probability Desk
Watch: The Power Wall
The Power Wall — the Probability Desk weekend cinematic. Watch, then read the full scenario report.
The Frontier
The Power Wall
When the binding constraint on AI shifts from chips to electrons, the world's largest owners are exposed twice. A 50,000-path scenario on whether the grid can build fast enough — with the cinematic.
The Frontier
The Closed Strait: How Long Should Capital Plan for a Disrupted Hormuz?
A Probability Desk flagship: a real 50,000-path Monte Carlo on the 2026 Strait of Hormuz shock and the UAE's exit from OPEC — and what a structurally higher energy-security premium means for universal owners.
The Daily Brief
The morning briefing for the people who allocate long-horizon capital.
Research, charts, video and podcast analysis for the institutions investing at the scale of the world.
Five minutes, five days a week. Complimentary — subscriptions are reviewed by our editorial desk, and you'll receive a notice once approved.
You’re on the list. Tomorrow’s brief will arrive in your inbox.
Please enter a valid email.