john kilduff is with us, founding partner. you have been following the oil market for years. how serious is the oil market taking this new threat? >> it's taking it relatively seriously. and it's certainly racheted up here over the past several weeks. to the western countries credit, for once, the sanctions are biting in iran. and that's why you are seeing a reaction by the iranians to them. and while though i think that they are certainly capable of causing trouble in-- trouble in the strait, we're not there yet in terms of being on the precipice. there's a lot of diplomatic dancing work to go on before that occurs. >> tom: it hasn't impacted global supply yet. most of that oil that runs through the strait of hormuz heads to amount of we know that china has slowed down a little bit. but does that threaten the asian economies? >> well, it will. it will threaten all our economies if it were to get blocked. even momentarily, even if it is just a single barge in the one of the two shipping lanes. the headline will hit the tape, we're all going to buy it and not sort out the deta