00:00Oil markets are whipsawing as the Iran war rattles global energy supplies.
00:04And after briefly surging towards $120 a barrel, crude has slid below $100.
00:09As President Trump said, the war could end soon.
00:11For more, we're joined by Bloomberg's Stephen Chysinski.
00:14Stephen, you know, as I was just saying, a wild day of volatility for energy markets yesterday.
00:21I guess the real question here is, what is it going to take to stabilize prices at this point?
00:30You know, I think the big thing is they're looking for some sort of peace deal.
00:33I think we saw Trump's comments overnight.
00:36It looked like there was some sort of, he was suggesting that maybe there would be some sort of off
00:41-ramp,
00:41that there could be some sort of end to this war.
00:45He said that they affect Eli Harder.
00:47He won, and there's more winning to be done.
00:49But I think the market is clearly focused on a few things.
00:53So, yes, of course, the end of this would be a major, major thing that would help cool down prices.
00:59Two would also be the release of oil from the Strategic Reserve.
01:04G7 had a meeting yesterday to potentially go over that,
01:09and they agreed that they're closely monitoring the situation and ready to act if needed.
01:14And then also, lastly, if we start to see the passage through the Strait of Hormuz restart,
01:20Trump also hinted that there would be two-degree guarantees by the U.S. Navy.
01:26He said that in the past, but we haven't actually seen any boats being used to go with any of
01:31these tankers
01:32through the Strait or if Iran has removed any of their warnings to the ships in the area.
01:38So, overall, those are the three things I think the market's looking at very closely.
01:41But a lot of it is in flux, and we're dealing with huge volatility.
01:45We're dealing with huge volatility.
01:46We're dealing with markets and operations appropriately throughout the pandemic.
01:46darf
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