Asks for thoughts on US-Iran tensions and oil price direction.
Nicole
Rob Thummel
Current oil prices around $65 include about $5 geopolitical risk premium from US-Iran tensions.
Asks if $70 is more likely than $60 or $50 given recent price strength.
Nicole
Rob Thummel
Long-term, Tortoise sees $70 as ideal Goldilocks price - adequate producer returns without causing consumer inflation.
Asks about likelihood of military strike given Iran's tough talk and strategic position.
Nicole
Rob Thummel
Iran could disrupt global oil supply through Strait of Hormuz, which would send oil well above $100, but this is not their base case.
Discusses Strait of Hormuz importance and Saudi spare capacity as near-term solution.
Nicole
Rob Thummel
Promotes four Tortoise ETFs: Essential Energy (TNGY), Electrification Infrastructure (TPC), Nuclear Renaissance (TNU.K), and AI Infrastructure (TCAI).
Notes TCAI up 45% in 6 months and asks about catalysts for continued growth.
Nicole
Rob Thummel
Catalyst is AI capital spending by hyperscalers on data center infrastructure components.