Antonio Gracias

If you do any deal right now, we might end up in a worse position than we started.

You know what I mean?

So it needs to be a deal that is better than the Obama deal.

So that's the baseline, to have a deal better than the Obama deal.

It needs to leave us in a position or leave Iran outside of position of power that they have right now at the Strait of Hormuz.

So they need to dismantle that for oil supply.

and they need to close the deal.

So we're between a rock and a hard place.

It's not an easy deal to make.

I think it's a no deal for them.

For Turkey, no deal whatsoever.

They can never do that.

That's what it sounds like to me.

He's pushing it off by saying, I have a deal done, but all these other countries are not going along, so I can't sign the deal.

I can't even tell you what it is because, you know, Pakistan is being – they're not going along with the Abraham – Saudi Arabia is objecting, and I haven't been on the phone with Turkey just yet, so I can't say that they're – by him saying that they all have to sign up, it sounds like a delay tactic.

I think that's an important point.

What we want to look for is, and from the oil market specifically, but as a place to start, what we're really looking for is oil to make an aggressive move that signals that the market itself believes that this is actually happening.

So, you know, prices have been bouncing around.

If you do the math, the 10th percentile for the last two months is about $91 per barrel.

On the high side, it's $106.