00:00The US is talking about progress towards a peace deal with Iran. Despite fresh hostilities
00:05and uncertainty of the Strait of Hormuz, security in the strategic waterway remains unclear after
00:10the two sides exchanged strikes and the US Central Command pushed back on reports that
00:14suggested the military was helping escort vessels. For more, let's bring our senior editor,
00:19Derek Walbank. Derek, the last time we spoke about where we're at with these negotiations,
00:24you said we're at sort of where we were, right? How much progress has been made as markets onlookers
00:31really kind of cling to hope that this will get done? Yeah, Heidi, I think the, you know,
00:37what we're looking for here is a lot of vibes. I think that's what we have to hang on to.
00:43There's,
00:43we're searching for tangible, but we're hanging on vibes. And that's kind of where you're seeing
00:48the market right now. You know, you're certainly seeing a lot of conversation
00:52about a positive move towards a deal in the kind of in that direction, albeit with the biggest
00:59sticking points, remaining sticking points. And so that's kind of where we've sat for a little
01:06while. We're certainly there now, but you're seeing these market indications as, as though
01:10we're getting closer and closer. And one of the ways that you would assess that you're getting closer to
01:15this is again, the U S and Iran, both taking steps to not reescalate, um, the, the, the strikes, uh,
01:23that, that were mentioned sort of going back and forth both sides. Yes. There were commentaries, uh,
01:29about that. That was a violation of the ceasefire, but overall it is really still holding. Um, there,
01:35there's a lot of attention being paid to whether or not these ships are going to get through the
01:39Strait of Hormuz. And if that can be opened up and what that's going to, uh, to look like as
01:44that
01:44kind of, uh, goes to a, hopefully a point of stabilization, as well as what the overall
01:50architecture of this looks like going forward. And that's one of the key sticking points here,
01:55Heidi is the idea of whether or not the Strait of Hormuz becomes something that Iran has effective
02:01control over, or if it can go back to its pre hostilities time as something that was really a
02:07more of a fully international waterway, the, the idea of, of being able to have Iran come out of
02:15this conflict in a way that they basically have veto and tolling power over the Strait of Hormuz.
02:21However, you kind of label it is one that the Trump administration finds objectionable and its
02:26critics would be eager to, to categorize as a loss.
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