00:00U.S. President Donald Trump has given an address to the American people, and in it he has said
00:05broadly what we've been hearing from him so far as the Iran war has gone on for weeks.
00:11Trump is insisting that other allies must help open the Strait of Hormuz, the narrow mouth of
00:17the Persian Gulf, through which about 20% of all oil and natural gas flows in peacetime.
00:23Trump also has reiterated his threat to blow Iran back to the Stone Age. This is
00:30coming as there is no sign of Iran accepting a ceasefire in the war that
00:35Trump launched with Israel on the Islamic Republic back in February 28th. And it
00:42also is signaling that Trump has an awareness that any operation to try to
00:47seize the highly enriched uranium likely entombed at Iranian nuclear sites
00:53would take months. This is coming as there had been some ideas floated about a
00:58ground operation in Iran to try to take that material. We don't know, however, if
01:04Trump is going to be willing to use force and ground troops to reopen the Strait.
01:09Right now energy shipments are just disrupted around the world, and we've
01:13seen Brent crude, that benchmark oil price, just spike by about 5% in the immediate
01:19aftermath of the speech. That shows that markets are concerned that this war is
01:24going to drag on, and everything we've heard from Trump suggested he was asking
01:28the American people for patience, meaning this war is not yet over.
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