Anna Helhoski

Yeah.

In the last week, President Trump escalated threats to bomb Iran's power plants and bridges, effectively, quote, wiping out an entire civilization.

Fortunately, at the 11th hour on Tuesday, he announced that the two nations had come to a two-week

ceasefire agreement.

Now, Trump had posted on Truth Social that the ceasefire is contingent on the, quote, complete, immediate and safe opening of the Strait of Hormuz.

Iran agreed to the ceasefire and the Strait has begun opening.

In response, the price of oil dropped below $95 per barrel, falling below $100 per barrel for the first time in more than a week.

Well, it sounds like the markets are relieved, but the real question is, will it last?

It's unlikely.

There's still a lot of uncertainty about how this will all unfold, and a great deal of unrest persists in the Middle East.

Yesterday, just hours after the temporary truce, an Iranian drone hit a pumping station along Saudi Arabia's critical east-west oil pipeline, which carries 7 million barrels of crude per day.

It's been a key route to bypass the strait, so damage could worsen the energy crisis.

It's safe to say that the economic pain from this conflict is far from finished.

Yeah, as I mentioned before, most everything you use daily, your food, electronics, and even the plastic containers that they come in, all of it starts with oil and natural gas.

Trucks and planes run on diesel and jet fuel, while factories need petrochemicals to make the goods themselves.

If those chemicals can't go through the straits, suddenly factories can't keep up and prices start climbing.

I mentioned diesel.

Well, it powers trucks and other freight vehicles, construction equipment, farm equipment, and marine vessels.

When it's more expensive to power these vehicles, the cost will be added to prices for shipping, transportation, and all kinds of the materials I mentioned that are used in manufacturing and production.

So basically almost everything.