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 ...

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 ...

Joining us now to discuss is M Max Max Leighton. He's City's global head of commodities research. Yeah, Max, what do you make of the pullback.Uh, does it make sense to you. I had thought we would be a bit stronger today. I mean, over the weekend, some of the the betting markets were showing a rising possibility of the uh straight of Hormuz being affected.And yeah, I would have thought it would have been a bit stronger this morning, but um clearly there was a lot of short covering, a lot of call buying on Fr ...

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the US might jump in and try to do something to ameliorate the situation. Pippa. Thanks.Appreciate it. Pippa Stevens. For more on where energy prices go from here, let's bring in Dan Pickering from Pickering Energy Partners.Dan, it's great to see you. Always a crisis. I think I liked it better with negative oil but then it was COVID.So what's your sense about what to do with crude now for investors who might have been way, way on the sidelines, given up on the on the sector. And for those who are wondering ...

In the sea of red, energy is the only sector uh on top today with oil prices moving sharply higher on the heels of of Israel's air strikes against Iran. Crude's still up about 7%. Pipa Stevens has a closer look at Iran's energy complex and why the state of Hormuz Pipa is going to be key here.So Kelly, oil's next move really depends here on how Iran responds to the attacks. Now the country itself is not a major supplier. They export about 1.7% million barrels per day with more than 90% of those exports comin ...