Andreas Steno is back flying solo again to answer the question that matters most for markets right now: Is the oil still flowing? Andreas examines what we actually know about energy flows through the Strait of Hormuz, how oil markets have responded, and why the feared supply shock never materialized. 01:00 - Macro Mondays: Is the Oil Still Flowing? What Markets Need to Know 03:22 - Strait of Hormuz Reopens? What the Shipping Data Really Shows 05:25 - Oil, Jet Fuel, and Fertilizer Prices Are Rolling Over Fast 07:51 - Falling Inflation Changes the Entire Macro Regime 09:24 - Why Central Banks Still Haven’t Caught Up to the Disinflation Shift 13:17 - Anthropic Export Curbs and the New AI Arms Race 17:51 - SpaceX IPO Mania and What It Says About Risk Appetite 19:55 - IPO Boom, Liquidity, and Why This Cycle May Still Have Room to Run 22:45 - South Korea Exports and Why Semiconductors Still Look Strong 17:15 - Defining Therapeutics, Psychedelics, and the Next Big Micro Trade 19:35 - MicroStrategy, Bitcoin Risk, and What Actually Matters Now #macro #andreassteno #macromondays #realvision 🔥 Get 𝗙𝗥𝗘𝗘 𝗔𝗖𝗖𝗘𝗦𝗦 to Real Vision https://rvtv.io/3YOZZUe Connect with Real Vision™ Online: YouTube: youtube.com/@RealVisionFinance Twitter: https://rvtv.io/twitter Instagram: https://rvtv.io/instagram Website: https://rvtv.io/3Y4t5Pw Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf

Is Oil Still Flowing? | Macro Mondays: Monday, June 22, 2026

Macro Mondays

# Full Transcript

**Podcast:** Macro Mondays

## Transcript

New week, you ready? Andreas on the data, Mikkel on the flow Turn the headline into trades you can know From yields to inflation, every chart, every trend Get the story, get the setup from the open to the end

They try to be as actionable and as honest as possible But keep in mind that their predictions might be Sometimes maybe good Sometimes maybe shit Sometimes maybe shit Sheet, sheet, sheet, sheet, sheet, sheet, sheet, sheet, sheet, sheet Sometimes maybe good Sometimes maybe shit

It's Macro your screen Macro Monday Hey guys and welcome back to Macro Mondayss. I'm Andreas Steno and I'm flying solo once again today as Mikkel is still enjoying that Italian food and wine.

We have a great show for you today and we'll basically answer the question that matters the most for markets right now Is the oil still flowing despite the hiccups that we've seen in the negotiations between Iran and the US over the weekend? But before we get started, from Connect to Alpha to Pro, we've basically dropped our prices to their lowest levels ever here at Real Vision.

The setup is once in a lifetime. That's why we're slashing prices so you don't miss out. So you can go to realvision.com slash pricing to secure your future today. And of course, to complement all of that, we have our three flagship reports here from Steno Research with our portfolio updates and more for the Pro tier each and every week. And I can tell you that we are on an absolute roll at the moment.

So it's probably worth every penny if you buy a Pro subscription. At least I'm a very, very happy guy today and I'll get back to WiserWords at the end of this show. Before we get to the micro portfolio ideas, let's have a look at the situation in the Strait of Hormuz.

I think it was on Sunday, Iran suddenly told the world media outlets that they were planning on leaving the negotiations due to the hostilities between Israel and Hezbollah in Lebanon. And as far as we know, live as I'm speaking here, the negotiations are still ongoing. We've actually had pretty decent news flow out of the negotiations today.

But it's still unlikely that the situation will improve in a straight line from here. Remember that it's less than a week ago that we got the signing of this memorandum of understanding between the two parties. And yet a few days after that, we suddenly had the Iranian side out saying that they would close the Strait of Hormuz again. So maybe that's a good place to start. Is the Strait of Hormuz actually closed or is it open? Let's have a look at the flow data that we can actually confirm on page five.

So after the signing of the memorandum mid last week, we had a couple of very solid flow days, as you can see from the spike here on the chart of vessels crossings in the Strait of Hormuz. We're still pretty far from normalized levels pre-war.

But as far as I can count and also confirmed by the U.S. administration, we had oil flowing at ...

Is Oil Still Flowing? | Macro Mondays: Monday, June 22, 2026

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Is Oil Still Flowing? | Macro Mondays: Monday, June 22, 2026

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.