Asking if the war in Iran is winding down and for an update on the process.
Carol Massar
Iain Marlow
We are all experiencing whiplash from different Trump administration officials about when the war will end. Trump's comment about it wrapping up was on a day oil hit nearly $120, likely motivated by domestic pressure over gas prices.
Asking what chapter of the war we are in based on his sources.
Norah Mulinda
Iain Marlow
US/Israeli attacks continue; Iranian retaliation has maybe diminished slightly, but it's unclear if they are conserving weapons or depleted. Observers think Iran is holding firepower, using a tactic of inconsistent volleys to drain US resources.
Asks about optics of US Navy escorting an oil tanker (oil headed to China) and the signal to China ahead of Trump's meeting with Xi.
Carol Massar
Iain Marlow
Most oil through Hormuz goes to Asia (China, Japan). The market has not been convinced by US pledges to keep the strait open via Navy escorts or insurance schemes. The only thing convincing the market so far is Trump pledging the war will wind down soon.