Looks like “oil volatility” → actually political cycles hitting markets in real time

“Intensified racial resentment… coincides with events that… challenged Whites’ dominance.”
— Racial Resentment in the Political Mind (Davis & Wilson)

“Racial prejudice should be thought of as a constant, activated…”
— Davis & Wilson

Now:

• escalation signals around Iran
• rising concern over Hormuz disruption (~20% of global oil flows)

Mechanism:
perceived threat → demand for disruption → unpredictable policy signals
→ probability of supply shock ↑

Market translation:

• spot oil premium ↑
• equities ↓

Not oil reacting to news.
Markets pricing what policy makes more likely.

This is what that repricing looks like: