So the Energy Secretary just admitted we’re “not ready” to escort tankers in Hormuz. How screwed are we?

20% of global oil flows through the Strait of Hormuz. If Secretary Wright is openly admitting the U.S. isn't ready to provide naval escorts right now, we are literally one “incident” away from oil hitting $110+ and the entire market tanking. With the FOMC meeting coming up next week too, this feels like a nightmare scenario for inflation. Are we really just going to sit here and pretend the supply chain is fine?

I’m honestly considering hedging with some $XLE or $OXY calls before Monday, but maybe I’m just overreacting lol

What’s the play here? Are you guys rotating into energy or just holding cash and praying?

Sources: CNBC/Blossom