Steph Chalmers

what's been agreed to.

So it doesn't really set it up.

Exactly.

And it's only this two-week pause.

So you're heading into a very short period of time with seemingly starting from very different bases.

So I don't think, as you say, you're going to have

companies confident to proceed in reentering this trade.

But then you've also got the fact that oil producing countries, their storage was filling up because they couldn't get their shipments flowing as normal.

So then they've stopped producing.

So even if we do get ships moving through, that's not going to be a normalisation in oil production coming.

We've got a backup of oil in storage, then you've got to get production online.

And then I was just having a look at the damage to oil facilities in Iran and elsewhere in the Middle East.

Exactly.

So we haven't seen that flow through because pretty much what we've been dealing with is just, you know, no flow through the strait.

So now we say it does actually reopen.

There's this backlog.

Then we're going to have to assess the damage to facilities.

So what oil analysts have been saying this morning is that it's not really going to normalise for

potentially months and then we could be looking at a world where you know instead of going back to around 60 US dollars a barrel or some sort of normal level it's more like 80 US dollars a barrel because Iran hasn't closed the Strait of Homs before so we now see that that is a possibility and they've kind of successfully used it as you know a trigger for Donald Trump to come to the negotiating table so

Yeah, I don't think it's going to be something that's going to normalise.