00:00Oil is rocking higher. Have we priced in already the full implications of if this process continues, get to 100,
00:10get beyond 100, where do the cracks start to appear?
00:13We certainly can go higher from here. We've already seen higher prices. Yes, we have some mitigating factors.
00:18But at the start of the week, we knew that her move shipping was essentially shut down.
00:22You had threats to oil infrastructure. That's very bad.
00:25And then on top of that, you have an additional threat to a choke point this week. Iran-Batouthis have
00:30threatened Saudi Arabian supply.
00:32If you're thinking about physical supply right now, where oil demand is relatively inelastic at the front, if you have
00:39more disruptions, you could see a rapidly higher price there if you're no longer able to go through that strain.
00:43Super resilient market. And while we'll see, we always see perturbations here or there, regional perturbations, which we're seeing now,
00:50this isn't a market that moves quickly because you have to make orders for aircraft well in advance.
00:57And we think that the demand is set for our aircraft going forward.
01:02The world has changed. There are many threats. We have to provide our customers and governments with new means of
01:12facing those threats.
01:13And this means accelerating, accelerating in new developments, accelerating in new technologies and accelerating in delivery of what we have
01:20already in our hands.
01:21But I think that could have a bigger effect on stock markets via anticipation of what central banks may do
01:30over the coming weeks and months.
01:32Moving on from crude to gas, the outlook there for Asia and Europe.
01:37How do you think competition between these two regions for the available stocks of gas, how is that going to
01:42play out in the summer and then into the winter then, Samantha?
01:45Europe and China and Japan and Korea all need to build their storage of natural gas ahead of the winter.
01:53So I think we're going to have to face some competition for cargos.
01:57Gas is the input of a lot of chemical processes.
02:00Europe is going to have high energy prices for the foreseeable future.
02:03And a lot of our suppliers are energy intensive.
02:08So you have a supply environment in Europe, which is going to be challenged for years to come.
02:12So you have a supply environment in Europe.
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