But the reason why is there so much oil that's been backed up waiting to get out of countries in the Middle east because of the Strait of Hormuz and the issues there. So Traders I've talked to, they said they expect a total crater once there's a deal and safety and security and they can get back and forth through the strait with no issues at all. because there's so much backup of oil that is desperate to need to be sold because of capacity issues as well. Yeah. And by the way, a total crater is not a good outcome. (16:40–16:58)
CLAIM
Asserts that traders expect oil prices to drop significantly once a deal ensures safe passage through the Strait of Hormuz.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
