Vivek Dhar

And that's a number which no one really has had to price.

But that's when people start talking about $200 a barrel for oil.

So in terms of what's been at play, if we really had to look at how much supply has been shut in in the Middle East for oil, for example, we're talking roughly 14 million barrels a day.

That's say roughly the equivalent to about 13 to 14 percent of global demand for oil.

So that's been shut in.

And basically, you've got to have to find a way to make up for that difference.

Now,

Inventory drawdowns are the way the market has really responded to this.

And thankfully, there's a lot of oil inventory.

But as I said before, there's a limit to it.

And these workarounds are already in play.

You're seeing some tankers risking the journey through the Strait of Hormuz

And, you know, Iranian cargoes can't come through.

You're seeing pipeline bypasses.

So that is happening and that's already factored in to what is in these calculations.

But the other thing is we're also seeing U.S.

trying to pump as much oil out as possible.

The problem is the volume lost versus what can be really subtracted from it.

It's very challenging not to see this net inventory drawdown play out.

So look, in terms of how it's working across the other, the commodity side, like look, LNG has been impacted too.