James Yorio

…vessels crossing the strait on average every day. And then, of course, you've got the Iranian-U.S. talks, which are on pause right now because Tehran is holding a funeral for its former supreme leader. Kenny, I want to get your reaction because we had James Yorio on with us in the 6 a.m. hour. We asked him about oil and his prediction about oil. Listen to what he told us. The only thing that seems like truth is the price of crude itself. And look at it, $68 a barrel. It's only about, you know, $8 or $9 ahead of where it was before this conflict started. So to me, the market is saying this thing is 98% done and to the general's point, that last 2% could be consequential if something flares up again. So there still should be a bit of a risk premium in crude. However, I think in the middle of next year, crude's going to be at about 45 bucks a barrel. And I think we're already starting to see the reasons why. UAE has increased production. OPEC then increases production to keep their market share. What do you make of that, Kenny? Listen, I'm in the same campus, Jimmy, right? I think oil is going lower. I think, you know, we're going to see the low 60s fairly soon. 45 might be aggressive next year, but I got to kind of think about how that's all playing out. But I definitely think the path of least resistance is down and not up. And so I fully suspect that, you know, the country's going to benefit really because we're going to see oil prices, like I said, get out into the low 60s, which is where they were right prior to the invasion, right…From: this video · 3 claims mined from it