David Hoffman

But this is a prime shipping lane for oil and very difficult to defend, particularly with some of the modern technologies.

technology and warfare.

Of course, you have like mines and such that can take out boats, but then also drones from Iran can easily take out shipping cargo and even pose a threat to US military ships.

So there seems to be like this asymmetry in that it's much harder to defend than it is to attack.

Yeah, and EU is probably like, yeah, but you guys started this, so how about you do it?

Yeah, that's the status, I suppose.

And that's why we're seeing crude oil prices go up.

Global equities don't seem to like this very much.

So on the five-day, the NASDAQ has been down 2.1%.

Dow Jones, so these are American indices, down 2%.

But in Japan, 3.4%.

In the UK, 2.6%.

Global markets outside of the US being more affected by this, and that makes sense if you see the bifurcation oil markets where Brent crude is much higher than the North American crude oil.

That's right.

Markets aren't liking this uncertainty.

I guess the question still lingers from last week, which is, is this going to be buttoned up at some point in time?

Is there going to be a peace, a cessation of fire?

How long is this thing going to last?

Since the war in Iran started, Bitcoin has been up like 16%.

Meanwhile, the NASDAQ has been down and gold has been down.