Facts vs Feelings with Ryan Detrick & Sonu Varghese
This podcast takes a deep dive into the market-moving events to cut through the noise and help you identify what really matters. Facts vs Feelings is hosted by Chief Market Strategist, Ryan Detrick and VP, Global Macro Strategist, Sonu Varghese, and is a product of the Carson Investment Research Team.
The information included herein is for informational purposes and is intended for use by advisors only, and should not be copied, reproduced, or re-distributed without the consent of CWM, LLC. Carson Partners offers investment advisory services through CWM, LLC, an SEC Registered Investment Advisor. Carson Coaching and CWM, LLC are separate but affiliated companies and wholly-owned subsidiaries of Carson Group Holdings, LLC. Carson Coaching does not provide advisory services.
Facts vs Feelings with Ryan Detrick & Sonu Varghese
Talking Oil and Iran with Rory Johnston (FvF Ep. 183)
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A global oil chokepoint sits at the center of today’s biggest market story — and the ripple effects are already showing up in prices, supply chains, and geopolitics.
In Episode 183 of Facts vs Feelings, Ryan Detrick, Chief Market Strategist at Carson Group, and Sonu Varghese, Chief Macro Strategist at Carson Group, sit down with Rory Johnston, founder of Commodity Context, to break down what’s happening in the Strait of Hormuz and why it matters far beyond energy markets. They walk through how oil actually moves around the world, how much supply has come offline, and why restarting production takes months, not days.
The conversation reveals the mechanics behind oil pricing, from futures curves to physical barrels, and explains why spot prices have surged even as headline prices lag behind. They also explore how disruptions force tough tradeoffs across global economies, with rising costs hitting some regions far harder than others.
If you want to understand what drives oil prices, how supply shocks unfold, and what comes next, this episode connects the dots.
Jump to:
0:02 Welcome And Guest Introduction
2:05 Rory’s Path Into Oil Analysis
6:09 Strait Of Hormuz Flow Basics
10:20 Reroutes, Pipelines, And Shut-Ins
20:50 The Double Blockade Explained
27:20 Retaliation Risks And LNG Targets
29:52 Shortages, Jet Fuel, And Demand Destruction
33:20 How Oil Prices Went Negative
36:56 Brent, WTI, Dated Brent, Backwardation
50:08 Why Oil And Stocks Look Complacent
57:22 Where To Follow Rory And Closing
Connect with Ryan:
• Ryan on LinkedIn: https://www.linkedin.com/in/ryandetrick/
• X: https://x.com/RyanDetrick
Connect with Sonu:
• Sonu on LinkedIn: https://www.linkedin.com/in/sonu-varghese-phd/
• X: https://x.com/sonusvarghese?lang=en
Connect with Rory Johnston:
• Rory Johnston on LinkedIn: https://www.linkedin.com/in/rorysjjohnston/
• X: https://x.com/Rory_Johnston
Questions about the show? We’d love to hear from you! factsvsfeelings@carsongroup.com
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