Eric Bolling

You're right.

It's act of God, act of nature, act of war.

It basically covers it.

But so it gave these folks, these Arab countries and now Russia's joining the party to rip up the contracts that they settle at, who knows, $50, $60 a barrel, $65.

and reinstitute them in the case of Brent, which is now trading $118 a barrel today, up $5 more, even on the heels of what would some, I'll tell you, the equity markets, the stock market, thought what Trump said this morning was a positive thing, relieving the pressure.

Stocks rallied up.

Oil market didn't come down because the oil folks have probably been burned a couple of times because we hear Trump say, we're about to win this, or they're obliterated, and then Iran bombs more oil.

infrastructure happened last night again.

So oil traders and not speculators, the actual guys trading the oil, the people I talk to, the refiners, the petroleum transporters, the producers, they believe higher prices are in the cards going forward.

So here's the mixed signal you get.

Yesterday, Trump says...

to Iran, open the strait, get to the negotiating table, or you're done.

We're going to hit water plants, we're going to hit power plants, and you're going to be finished.

And then today we wake up a much softer tone.

I think this is very smart.

He says, you know what?

Our work is almost done here.

I'll tell you what, European Union, you're ball now.

You're the ones at most risk.

China, you're at most risk for not getting this oil through the strait.