John Kilduff

…So that's also feeding into this higher gasoline price relative to the crude oil price you're seeing. Yeah, on that subject, I mean, gas prices are still about a dollar per gallon higher than they were when the war in Iran began. So why are those two prices not falling exactly in tandem? Right. I like to use the analogy that the crude oil is the flour, the gasoline is the cake. They got to make that flour into cake. And we just don't have the bakeries going full tilt right now to be able to bring that product to market. So those prices are staying elevated. We're seeing terrific demand here in the United States for gasoline. We got a report this morning that showed really robust gasoline demand. This is the peak, though. This week, the next week, this is the peak gasoline demand period here in the U.S. It'll fall off from here. I suspect by Labor Day you will see a considerable price drop at the pump as well here in the U.S. I don't know about the President's aspirational 250 a gallon, but certainly down around 325 is a realistic target for that time period. The war has also illustrated how much leverage Iran really has over global oil prices. Do you think its ability to control the Strait of Hormuz will create a more volatile energy market for the foreseeable future? In the near term, absolutely. They've shown their willingness to lash out at ship traffic through the strait.…From: this video · 1 claim mined from it