The media, as I noted earlier, remains disappointed that oil prices didn’t shoot up. So do the WW3 influencers who were promising us that oil prices would crush the economy.

Didn’t happen. Why not?

One answer is that the oil markets weren’t on Twitter. The smart money was that it would be a short war and American involvement would be even shorter. Every influencer pretending otherwise was not very bright or very malicious. And those pretending that their tweets changed everything would have to explain why not much happened with oil prices.

A second answer though is that despite public condemnations, the Saudis had deliberately worked to protect oil prices early on to make this possible.