Keith Rabois

I think Goldman had it slightly under a doubling.

So that was definitely the fear what folks had going into that weekend.

But coming out of it, this is where I think you have to be very respectful of the fact that the market is really the sum of many, many, many millions of informed opinions.

And I think what they saw was that Iran was not really in a position to do anything but capitulate and give up.

And I think that what they also saw...

whether you agree with the Israeli policy or not, was that they had systematically gone from where they are and marched eastward, essentially.

They effectively decapitated Hamas.

They effectively decapitated Hezbollah.

They effectively decapitated the Houthis.

I think finally putting a nail in the coffin of this Iran nuclear ambition program was not just important for them, but it's critical for Saudi and the UAE.

MBS had an incredibly powerful quote, which was, if Iran gets a nuclear weapon, we will have no choice but to get our own.

By taking all of that risk off the table, what you're now talking about is an enormous supply that could essentially service world productivity needs unhindered.

Because it's not just Iranian supply, you're talking about Emirati supply, and you're talking about Qatari supply, and you're talking about Saudi supply.

So I think what the market realized was, okay, now the Middle East is the closest it's ever been

to fully monetizing the oil that they have and to invest aggressively into their own people.

The second thing is that Steve Witkoff

spoke about the fact that you should expect the Abraham Accords to expand.

So if you think about that one-two punch, not necessarily from a geopolitical lens, but from an economic lens, the first punch is neutering the Iranians' ability to be chaos monkeys in the region.

But the second punch is the one that then now creates normalization across the region with Israel,

It double and triples down the ability to monetize oil and start to invest those returns in future projects that have a much better ROI.