Alan Kohler

Music and more.

Music and more.

I mean, what does all that mean?

I've got no idea.

I mean, there used to be, before the war, there was 120, 130, 140 ships a day going through the Strait of Hormuz.

So if they're going to escort all of them through, they're going to be very busy, I would have thought.

So I don't think that's going to work.

But so, yeah, look, will that mean any ships get through?

I don't know.

I mean, it's hard to know.

Well, he also talked about, as you said, humanitarian, by which he means that the people on these ships are running out of food.

So they seem to be, the Project Freedom thing seems to be aimed at ships that need to get through the Strait of Hormuz just in order to save the crew.

So I don't know how many that means and what it involves.

I mean, he also said that his representatives, that is Jared Kushner and Steve Witkoff, are having very positive discussions, he said, which could lead to something very positive for all, but he didn't offer any details about that.

It does seem to be dragging, as if it's going to drag on for a while unless Trump just kind of gives up and pulls out.

Look, there's two things for everyone to keep an eye on.

One is the price of the two benchmarks, West Texas and Brent crude.

And the other is the premium that's having to be paid for actual Persian Gulf oil that's needed to make diesel.

and jet fuel in the Asian refineries that we get that stuff from.

So as for the two benchmarks, if you look at a graph of those, which are easy to get hold of, you can see that they jumped, obviously, that the price jumped at the beginning of the war on February the 28th.