00:02Oil prices are climbing again, as any real path to a deal with Iran still looks out of reach for
00:09now.
00:10Secretary of State Marco Rubio is dismissing Iran's latest proposal, saying it falls short of the U.S. core demand.
00:17No nuclear capability.
00:19Iran is offering to reopen the Strait of Hormuz, but only if the United States lifts its blockade on Iranian
00:25ships and ports.
00:26The problem, there is no movement from Iran on its nuclear program.
00:31Rubio also makes clear the Strait is not Iran's to control.
00:36What they mean by opening the Straits is, yes, the Straits are opened as long as you coordinate with Iran,
00:41get our permission, or we'll blow you up and you pay us.
00:44That's not opening the Straits. Those are international waterways.
00:47They cannot normalize, nor can we tolerate them trying to normalize a system in which the Iranians decide who gets
00:53to use an international waterway
00:54and how much you have to pay them to use it.
00:57As the Trump administration weighs the Iranian offer, oil markets are reacting.
01:02Brent crude, the global benchmark, is back above $100 a barrel, hitting around $111 early this morning.
01:09U.S. crude is also pushing higher, just under $100 a barrel.
Comments