While markets claimed oil was at $75, in reality it was $250.

Black Man Spy - Malcolm Nance — former US Navy intelligence officer — in an exclusive interview explains how the futures market and the physical oil market told completely different stories during the Strait of Hormuz crisis. And why the world was closer to "tank empty" than anyone admitted.

"The replacement water flow is a garden hose. But the usage is a fire hose."

Full clip here: youtu.be/ZbOtYpaLZHE — complete interview available for subscribers.

The futures market had no idea. The physical market was screaming.