Joining us now is Arjun Mertie. He is partner for energy macro and policy at energy consultancy Veritin and former equity analyst at Goldman Sachs. Arjun, welcome.So does lawyer lower oil today just reflect that investors believe Iran has been defanged. I think that's right. I mean, keep in mind, we probably had built as much as a 15 to20 dollar per barrel premium in oil over the last week versus where we were trading pre-Israel Iran and we're now in the process of eliminating that and I think the market is ...

All right, welcome back. Let's talk energy because tensions remain high as Israel targets Iran's missile production sites. Oil and natural gas prices have been rising over the past week on concerns that shipping may be hindered or even shut down in the ultra critical Persian Gulf and Straight of Hormuz.But here is a story you are not hearing much about elsewhere. Even if shipping remains the same as it is today and the ships, they are still flowing, you may still see energy prices that you pay go up. Let's ...