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I think the best traders of oil are the Chinese. And so they're the real, you know, the power underneath this all is that is their buying of Iranian crude. They put the bid on oil. They put the bid on Iranian oil so that they're the main buyer by far.You know, 80% of Iranian oil is a lot of it actually goes to Malaysia and then is re flagged. So you see that Malaysia exports more oil to China than it produces oil. So it's obviously smuggled.And basically the other manipulation is the White House turning the ...

Listen to CNBC wherever you get your podcasts. >> Oil prices spiked over the weekend. This following America's strikes on Iran, but now they're in the red.You can see that, of course. President Trump posted on Truth Social this morning. Everyone keep oil prices down.I'm watching. You're playing right into the hands of the enemy. Don't do it.Posted the president and to the Department of Energy. Drill, baby. Drill.And I mean now. Brian Sullivan is here at post nine. He's going to help us break those things do ...

Well, this morning, investors are trying to game out the economic impact of this past weekend's US strikes on Iran. Our senior economics reporter Steve Leeman joins us right now with more on that front. Steve, good morning. Morning, Becky. Yeah, muted market reaction to the military action in Iran suggests the possibility of a muted economic impact, but it will add to the potential for greater uncertainty and inflation already created by tariffs. The result could be to further stay the hand of the Fed, whic ...

Stephen, how much risk premium then has been factored in levels we see today, given the upside pressure on oil prices is now relatively muted in the context of this significant geopolitical event. You know, oil prices are still up 10% since Israel launched the strikes on Iranian nuclear sites about two weeks ago. A week and a half ago.So we are still in a risk premium situation. Prices are higher than where the fundamentals show. But I think today's move in the market is pretty indicative of where we stand. ...

A critical question is whether the price change is temporary or permanent. It is easy to focus on the recent rise in oil prices, but compared to early April, oil prices are only up modestly. Relative to mid-January, oil prices are little changed and are indeed down a touch on a year-over-year basis. June 22, 2025 06:00 AM GMT Sunday Start | What's Next in Global Macro M Global Idea War and Oil This entire year has been marked with global uncertainty. The discussions of a trade war have shifted again to disc ...

about the oil price shock that you mentioned because I've seen two arguments really emerge on Wall Street. One, if we have a sustained increase in oil like you were alluding to, we could see this upward pressure of inflation that could trickle through into gas prices which we know have been pretty stable. That's been helping the consumer right now.On the opposite side of that, that could also dent growth which could lead to maybe a deceleration of the labor market and then that would force the Fed to act mo ...

says the commodity oil may be topping out at current levels. Paul Sankey lead research, Sankey Research. So topping out Paul welcome, by the way.Thank you very I would assume with a giant asterisk which implies we don't have a, you know, a bunker buster bomb taking out the Fordo nuclear site. >> Yeah. I mean, I think that or a mine.>> Laid in the Persian Gulf. >> No, I think look, Brian, what happened was we got chopped up. We were we were talking short down at 60, you know, and it's gone up to 75.And I thi ...

LISA: THANK YOU SO MUCH. JOINING US IS STEPHEN SHORCK. HOW LONG DO YOU THINK THAT THEY WILL LAST.IT WILL DEPEND ON FURTHER ESCALATION AND HOW LONG THE HOSTILITIES. WE ARE LOOKING AT A SITUATION OF A WAIT AND SEE. THE MARKET HAS PRICED IN GREATER VOLATILITY.WHAT WE SAW BEFORE LAST THURSDAY WAS A MARKET SWITCHING INTO THE BRENT AND WTI BEGINNING IN 2026 HAD SWITCHED TO A MARKET WHERE PRICES FOR JANUARY WERE CHEAPER THAN FEBRUARY AND SO FORTH. THIS IS A CLASSIC FUNDAMENTAL TELLTALE THAT THE MARKET IS PRICING I ...

The straight of Hormuz is a narrow stretch of water that links the Persian Gulf to the rest of the world. About a fifth of the world's oil flows through it. That's the world's produced oil, the world's consumed oil.It has to go through that waterway. It's largely unavoidable. And so any kind of material disruption would be a big issue.Iran has always said that it could close the straits if threatened, if the situation demanded it. It would be very difficult for Iran to do that and certainly very difficult f ...