Strait of Hormuz

That is the deal.

How is that deal looking at this point? [chuckles] How is that going? Um, you know, it's, it's one more blow to the not only petrodollar, but US dollar as the world reserve currency, and there are also reports that, um, the Gulf countries are thinking of getting together and meeting directly with Iran about, "Hey, let's work this out ourselves in terms of, um, the Strait of Hormuz and what the new reality is gonna look like."

Oh.

And so in the, in the rest of this interview, they get into kind of where this conflict goes from here, and the interesting background really is that, you know, Saudi Arabia and the UAE collectively were part of a joint coalition fighting against the Houthis starting in twenty fifteen, sixteen.

Now hostilities have continued.

Uh, the Strait of Hormuz remains, uh, locked.

Um, the Americans show deep frustration towards the Iranians.

The Iranians are holding out and, and it's very clear that the Iranians do have that trump card, uh, with the Strait of Hormuz.

Just bring us up to speed on where that currently is and where you foresee that ending.

Uh, is it gonna end any time soon?

I think that Donald Trump is trying to escalate in such a way where he's trying to find a way in which he gets out of this where he looks like a victor-

Mm

US diesel prices rose above $6 a gallon for the first time ever, raising the risk of further energy driven inflation.

Geopolitical turmoil has sharply curtailed the world's ability to produce and ship sufficient quantities of diesel, with fighting around the Strait of Hormuz and lost refining capacity limiting production and distribution.

Interior Secretary Doug Burgum speaking on Bloomberg Balance of Power on remedies for the soaring prices.

Every idea is on the table.

Houthi forces have reportedly captured Perim, an island in the middle of the vital Bab al-Mandab Strait.

This as talks between the US and Iran do not appear to be on the table.

But plans are underway to hold a meeting on Monday with Persian Gulf states and Iran to discuss regional issues and the outcome of Iran-Oman negotiations on safe shipping routes through the Strait of Hormuz.

We get more from Bloomberg Middle East correspondent Abeer Abu Omar.

Gulf of Aden then goes into the Arab Sea.

So Red Sea, this is the southern end of the Arab Sea, which takes you into the Gulf of Aden, which in turn takes you, takes you into the Arabian Sea, or if you want to go pass the dangerous way, if you're adventurous, you can cross the Strait of Hormuz and go to the Persian Gulf.

But mostly you go to the Indian Ocean, Arabian Sea, Indian Ocean, and then to the Pacific.

So think about this place.

We talk about choke points.

Choke points are the new geopolitics.

That is Strait of Hormuz.

That, in some ways, is something that Ukraine is trying to turn parts of Black Sea into, but that's a different story.

Yemeni government sources confirmed the development to Reuters.

US ally Saudi Arabia has relied on the route since the conflict with Iran effectively closed the Strait of Hormuz.

UK lawmakers rejected legislation today that would allow adults with terminal illnesses in England and Wales to end their own lives.

The vote ends a nearly two-year debate on legalizing the practice.

They're sitting there laughing as if he's actually winning and everything's fine.

He's trying to distract from the fact that the Strait of Hormuz is closed down.

That's why he's calling it the Trump Strait, yet the people in the audience blindly follow him.

I feel like he could tell them to raise their right hand and they would.

AL Monitor reports this move cements their control over a key shipping corridor linking Europe and Asia, and that Iran hailed the advance, with an advisor to Iran's supreme leader congratulating the Houthis on what was called a resounding victory.

This development means Iran now effectively controls two of the Middle East's most strategic chokepoints, following its earlier blockade of the Strait of Hormuz.

In a broader strategic context regarding Iran, the Jerusalem Post reports that IDF Chief of Staff Lieutenant General Eyal Zamia is managing a complex threat landscape.

Following major operations in 2025 and early 2026, including significant strikes on Iran's nuclear programme, air defences and ballistic missile sites, Israel perceives a strategic win over Tehran.

They blew up the pipeline, or at least part of it.

that monetizes the Strait of Hormuz's block, that monetizes Saudi oil.

Also, they took this port and they're trying to choke off the Red Sea.

Bowling, your thoughts about that, but also where we stand as far as markets go.

Now, we don't know where the enriched uranium is.

You found several effects of the closing of the Strait of Hormuz.

What kind of stood out for you as being the most interesting?

I mean, there's, of course, oil.

And so there's a kind of absolute shortage of helium around the world and probably at children's birthday parties, going back to the clowns.

They're probably up in arms about the fact they can't get hold of the helium.

There's a box out where we look at the unintended consequences of the Strait of Hormuz closing.

And one of them is the fact that a lot of the Gulf states now have had to completely recalibrate Their strategy to survive in this dangerous neighborhood, the amount of revenue they're getting has been absolutely slashed through oil and gas exports.