What's that going to mean for refining capabilities? And what does it take to refill this tank? So we will see gas prices rise immediately on it because Iran is now choking off that narrow point area right next to Iran, where about 20% of the world's oil actually moves on a regular basis through tankers. So we'll experience some higher prices depending on the length of this war and what happens in what's called the Strait of Hormuz. Those prices could come down as well, just as rapidly. (06:13–06:24)
CLAIM
Asserts that Iran is affecting an area where 20% of the world's oil moves regularly.
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.
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