Matt Randolph (Mr Global)

They're low on fuel.

They're low on supplies.

They're low on food.

They're full of sailors that's been stuck in the middle of the water for over a month.

There's only seven – there's seven places –

right there on that end of the Persian Gulf, where these ships can refuel.

So you have thousands of ships.

Many of them take 24 to 36 hours each to refuel.

So just getting the ships that are sitting there stuck, that's going to take weeks and weeks, we know for sure, just to resume that flow.

Then you have...

probably six to eight weeks of oil production in the Persian Gulf that shut in because they had nowhere to put the oil because they were producing and filled up all their storage tanks and had to shut in fields.

That's six to eight weeks.

And then you've got to consider once those tankers leave the Middle East, it's a good two to three weeks for them to get to their destination.

So even if the Strait was open today...

You're still looking at probably a couple of months before physical deliveries of oil occur.

Now, just removing the risk premium with a massive de-escalation and just knowing progress is being made would lower gas prices some, you know?

You know, you might go from 407 to 380 or something.

But yeah, the higher gas prices are, you know, yesterday they came out.

Trump came out and said that gas prices will be at multi-year lows as soon as this is over, even though his own Department of Energy is still showing the national average above 320 at the end of 2027.

So, yeah, it's it's what the EIA is saying, which is part of Trump's administration and what the administration itself is saying is completely detached from reality.