The Strait of Hormuz is a strategically important shipping lane between the Persian Gulf and the Strait of Persian Gulf. Iran recently attacked a cargo ship carrying Iranian oil, and the United States and its allies have responded in kind. The question is, what will they do about it?
00:04:51.820I'm curious to know if they're already demanding that and if the world is organically accepting the terms.
00:04:59.260You know, to say, look, just pay the guy.
00:05:00.660I saw a report that Trump was saying that they're going to split the tolls.
00:05:04.480I don't know how truthful that is, but he said he was going to try to negotiate some way.
00:05:09.540split the tolls yes some ships have reportedly paid in some cases i don't know if that's a good
00:05:13.700thing or not what do you think about that 50 50 split ownership i don't know it seems like a
00:05:17.980trump thing this seems like sort of a classic government you know snafu where the government
00:05:23.020does something overplays its hand and then all of a sudden they're taxing everybody because who
00:05:26.940ultimately pays for all this stuff i mean taxes taxes don't get paid by by nobody taxes ultimately
00:05:32.660get paid by people who are consuming so all of this you know what does it do in the long run
00:05:36.740It drives up, you know, inflation marginally and ultimately people who consume oil end up paying for for all of this.
00:05:44.540So I don't know. Yeah, those prices will get passed on to the consumer.
00:05:49.060Exactly. Well, we'll see. I mean, look, the reality of it is, do you think the president's going to come out of this without him not seeming like the, you know, victor in the negotiation?
00:06:27.400I don't think he's going to let that happen.
00:06:28.600I think at this point, Trump Trump's win is do they win the midterms?
00:06:34.760Do they even split the midterms at this point?
00:06:36.880Because now, I mean, God, a month ago, the Senate, there was almost no chance the Senate was going to go Democrat.
00:06:42.680And in the last, you know, 10 days, it's 50 50 now, which is kind of crazy to think.
00:06:48.100North Carolina, which he won three times, a guy's running in North Carolina, a senator, Democrat, who I think the last time he won by three points, the president did.
00:06:56.720the North Carolina race is now going potentially Democrat, Senate race.
00:08:55.540There's all these things that handcuff the labor market looks weak.
00:08:58.500You know, so there's so many things that were already going on.
00:09:01.060And this kind of throws a wrench in so many of those narratives where, I mean,
00:09:04.560you need oil back down to 60 bucks yesterday at this point.
00:09:11.480Otherwise, I mean, with the ceasefire, the way traders are going to look at this,
00:09:14.360They look at a ceasefire and they say, OK, we we know that the risks are reduced, but we need to hedge our bets still, because what if something transpires in the next two weeks where, you know, oil potentially goes back to one hundred and fifteen bucks?
00:09:28.440So they're looking at this and they're they're kind of waffling on this that they're not going to oil traders aren't going to take this right back to 60 bucks anytime soon, because now they're looking at it and say, well, there's still there's still a two week window of risk here at least.
00:09:40.080So I would have preferred to see something that was definitive,
00:09:43.940that where, you know, you were able to actually look at this and say,
00:10:52.420It reminded me of when I was a kid and we'd go to these churches with my mom and my sister or we'd go to this Assyrian church down the street from my grandmother's old house that she would live there.
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