Ian Verrender

I mean, Wall Street, when it shut last Thursday night, rose about 0.4% and didn't seem to be wild enthusiasm running through the veins of investors at that stage, I guess, faced with a four-day shutdown of markets.

But yeah, this morning, it just bolted straight out of the opening.

And

I mean, look, maybe you could say that Australians have embraced the taco trade because clearly they don't believe that we're going to see a massive ratcheting up in oil prices overnight tonight.

And probably there won't be any great hell breaking loose either.

I mean, you know, one of the really interesting things about the market this morning was that guess which company was the best performer on the market?

It was Guzmany Gomez.

So talk about the taco tray that just rubs, what, enchiladas or... Quesadillas.

Chipotle right into the wounds, doesn't it?

Well, this is an extension in itself because it was supposed to be Tuesday, 10 o'clock in the morning, our time.

And suddenly overnight he said, well, it's going to be the next day.

And then he said, so I gave him a 10-day extension.

Oh, I make it 11 now.

The Strait of Hormuz clearly is the key asset that Iran holds.

It's the ultimate weapon, I guess, they've got against America and the threat of a global recession.

They're not going to give it up easily.

That's always been the case that they control it.

So

Why would you just suddenly decide to flip because Donald Trump has asked you to after he's been bombarding the country for the past five weeks?

So I can't see any let up at all in that arrangement where they're going to basically just keep control of the Strait of Hormuz and keep all of those ships locked in.