Darren Lehane

Yes, Clare, good morning.

It's not like flicking a switch where the light will come on.

In this case, flicking the switch and the straits are reopened.

There are two aspects to this.

Firstly, there's what countries do, international states.

And secondly, there are how international markets respond.

And I think it's just important for context that everyone remembers that normally a fifth of the international oil supply and a fifth of the international liquefied gas supply passes through these straits.

every day in normal circumstances.

And there are huge sums of money involved there, both from the shipping companies themselves, who own the vessels sailing through it, the people who own the oil or the liquefied natural gas that's on those ships, and the people who are receiving it.

So people are going to be risk adverse.

And that's not just in an abstract sense, Clare.

It's in terms of the insurers who insure those cargoes, who insure those ships,

the suppliers who make contracts to sell that material on, wherever that may be, they're all going to have a high degree of caution when it comes to all of this.

Because again, we're talking about a relatively narrow strip of water.

I think it's only 39 kilometers wide at the narrowest point.

That is one of the most significant international shipping straits in the world.

There would, yeah, Clare.

I mean, I'm going to use a trite analogy, but I think it's a useful one.

If I go into Woody's and I buy a spade, right, I get a spade, notwithstanding that it's called a fork and the man selling it to me says it's a fork.

A spade is a spade and a fork is a fork.