I'm Peter Shack now, CNBC. Stocks have opened mostly lower after Iran said the US must still satisfy several of its demands before the straight of Hormuz could reopen. That's also helped push the price of oil up about 2% today.The Dow Jones Industrial Average is 78 points lower at 53,959. The S&P 500 right at break even. The Nasdaq Composite a tenth of a percent lower or 29 points.Francisco Blanch, head of commodities and derivatives at Bank of America, says as long as restrictions at the Straight of Hormuz ...

Joining us now to talk about the energy markets, the head of commodities and derivatives at Bank of America, Francisco Blanch. Uh Francisco, great to have you with us. You know, given the latest developments in Iran and or maybe lack of developments, does that alter your view of where crude finishes.Well, the reality of the matter is uh we've expecting oil to be in the $70 to $80 a barrel range for Brent uh on the assumption that we were going to see some resolution, but if we don't, we're going to keep cre ...