Dan Struyven

Reopening is going well and quickly.

We estimate that total oil exports from the Gulf are already back at 60% of pre-war levels over the last week.

Second, I think markets are challenging this idea that you need a sticky, large security premium.

And third, I think markets are putting some probability on the possibility that oil demands will be structurally weaker as a result of the shock.

Reopening is going well and quickly.

We estimate that total oil exports from the Gulf are already back at 60% of pre-war levels over the last week.

Second, I think markets are challenging this idea that you need a sticky, large security premium.

And third, I think markets are putting some probability on the possibility that oil demands will be structurally weaker as a result of the shock.

The Trump trillion shows you the increase Europeans and Canadians are paying into defense since you took office in 2017.

Reopening is going well and quickly.

We estimate that total oil exports from the Gulf are already back at 60% of pre-war levels over the last week.

Second, I think markets are challenging this idea that you need a sticky, large security premium.

And third, I think markets are putting some probability on the possibility that oil demands will be structurally weaker as a result of the shock.