the suez canal is the main source — economy. the suez canal is the main source of _ economy.uez canal is the main source of foreign - economy. the suez canal is the main source of foreign currencyi main source of foreign currency to egypt, producing last main source of foreign currency t° egypt, producing last year to egypt, producing last year $9.4 billion. it t° egypt, producing last year $9.4 billion. it comes out of around $35 billion, the total foreign currency income to egypt. you can imagine that there —— if there is any drop, there —— if there is any drop, the egyptian economy would suffer nothing can compensate. economy is suffering and we've talked about how the route and many international shipping companies are completely avoiding it at the moment with no foreseeable and to this conflict. . , conflict. india. the figures say that — conflict. india. the figures say that in _ conflict. india. the figures say that in january - conflict. india. the figures say that in january only i conflict. india. the figures| say that in january only the say that in january only th

the suez canal reached 54.s number in january was attributed to the continued gaza war and the ban on the passage of the zionist regime's ships through the red sea. about 30% of container ships in the world pass through the suez canal. the pakistan army announced that in a security intelligence operation in the northwest of the country, four terrorists had a history of attacking pakistani security forces they were destroyed. this operation was carried out in the province of khyber pantunkha and on the border of this country with afghanistan. according to the security officials of khyber pertunkhad province, in the first 3 months of 2024, at least 88 terrorists were killed in clashes with pakistani security forces. the commander of the ukrainian army announced the withdrawal from three other areas in donsk. alexander sirsky said: following the heavy attack of the troops. specify the new ukraine. the process of sending weapons to kiev was slowed down in the last seven months due to the disagreement of american re

suez canal trade fell by half in the early months of this year compared to the beginning of 2023.d the cape of good hope at enormous cost in time and money, and it's come at a huge cost to the egyptian economy, highly reliant on the canal for billions of dollars of income. further west, one more choke point, the panama canal. water shortages there have led the authorities to reduce the volume of shipping travelling between the atlantic and pacific oceans. the imf reckons that trade on that route has fallen by nearly a third over the past year. let's bring in industry expert peter sand from xeneta, which specialises in shipping logistics. it's quite dramatic what is going on right now in the region. we are aware of the disruptions that everyone in the maritime supply chains are facing right now with the situation in the red sea and the gulf, with the hijacking of the gulf, with the hijacking of the container ship msc, also over the weekend we saw tensions going one step further up tensions going one step further up also involve an arabian gulf, and what we have seen fairly resilien

according to the international monetary fund, suez canal trade fell by half in the early months of thisginning of 2023. it's driven traders around the cape of good hope at enormous cost in time and money, and it's come at a huge cost to the egyptian economy, highly reliant on the canal for billions of dollars of income. further west, one more choke point, the panama canal. water shortages there have led the authorities to reduce the volume of shipping travelling between the atlantic and pacific 0ceans. the imf reckons that trade on that route has fallen by nearly a third over the past year. although tensions are high, the closure of the strait of hormuz is unlikely. that's according to industry expert peter sand from xeneta, which specialises in shipping logistics. i think the likelihood of an outright blockage of the strait of hormuz is quite limited. that doesn't mean that shipping will continue to do business in and out of the area. it is already before what's going on with the israel—gaza war and the most recent exchange of fire from iran. this is an area that had been haunted in th

about 30% of the world's container ships pass through the suez canal. pakistani army announced that in an intelligence security operation in the northwest of this country, four terrorists who had a history of attacking pakistani security forces were killed. this operation was carried out in the province of khyber pakhtunkhwa and on the border of this country with afghanistan. according to the security officials of khyber pakhtunkhwa state, in the first 3 months. at least 88 terrorists in 2024 they were killed in clashes with pakistani security forces. the first minister of scotland has resigned from his position following political differences with the green party, the other party forming the coalition government. hamza yusuf, who is the first muslim prime minister in one of the english regions in the history of this country, said when he announced his resignation in negotiations with other parties. in order to form a coalition government, demands were raised that were not consistent with his principles and values. scotland's first minister mustafi call

and in the 20th century, the rocks trials were one of the finance years of the suez canal. why and how did one family get so entrenched in foreign affairs? you know, generation after generation after generation. you know, i don't think it's a surprise shouldn't surprise us me. think about the nature of what the british empire, what it was, it controlled about a quarter of the world's land land mass had at, as high as peak. right. that included in the, the commonwealth countries, canada, australia mean these obviously major land masses, but that's if you're, if you're in wind with the bank of england, if you're one of the major banking houses of england at that time, of course, you're going to get access to all the empire, and that's actually where the relationship seems to started with this. a rhodes, who was one of the great impaired british imperialists of the late 19th century when he went to south africa, a few people sort of to be yours. for example, that's basically us as a rhodes creation. he was, is, you know, it was the total races, the look down at the local afric

and in the 20th century, the rocks childs were one of the finance years of the suez canal. why and how did one family get so entrenched in foreign affairs? you know, generation after generation after generation. you know, it's, i don't think it's a surprise soon as a prize, as me think about the nature of what the british empire, what it was, it controlled about a quarter of the world's land land mass had at its height, is peak right? that included india, the commonwealth countries, canada, australia mean these obviously major land masses, but that's if you're, if you're in twined with the bank of england. if you're one of the major banking houses of england at that time, of course, you're going to get access to all the empire. and that's actually where the relationship seems to have started with this. a rhodes, who was one of the great impaired british imperialists of the late 19th century when he went to south africa, a few people for it up to be or as for example, that's basically assessor roads creation. he was, is, you know, he was a total races to look down at the loc

egypt under its control, decided to take over the palestinian region due to its proximity to the suez canal, which could ensure my security and... under its control in the arab and northern regions. increase africa. with this strategy, britain chose the zionist movement as its partner in the new colonial order. in the middle of world war i, a secret agreement was drawn up by an english politician named sir mark sykes and a french diplomat named francois georges picot. the saxe- picot agreement effectively paved the way for the establishment of a jewish state in palestine. was written one month after the publication of the banfour declaration on december 11, 1977, the british army led by general edmondi captured jerusalem. one of the members of this group was david ben-gurin, who later became the first prime minister of israel. at this time about 50,000 jews lived in palestine , which means only 10% of the population of half a million muslims and christians in this city. world war i ended in 1918 and the victorious powers prepared to divide according to the saxe-picot agreement. were in the

after the end of the suez canal crisis in 1956 and turning a military defeat into a political victory for egypt, it has been more than 10 years now that nasser has become the undisputed leader of the arab world , and from the east to the west of the world, every politician who has a little bit of an independence perspective is with him. meets president sukarno. indonesia in the east to fidel castro and che guevara in the west, as well as african leaders , are all eager to meet and host nasser in their countries, even many heads of arab countries who do not see nasser for a thousand and one reasons are forced to because of his popularity. he even had a souvenir photo with him. in these years, nasser is busy implementing his ambitious plans in egypt and the middle east, which has strong popular support both domestically and has an important ally like the soviet union at the global level. from all-round development in egypt to involvement in the war in yemen and deployment of troops. to this country to help the left-wing rebellion to overthrow the monarchy. but one of the biggest preoccu

the history of the suez canal as a whole is a struggle for ownership over the main trade artery of theorld. yes, legally it belongs to egypt, but this was not always the case. for many years the canal was controlled by great britain, but on july 26 , 1956, egyptian president gamal abdel-nasr nationalized the trade channel. the colonialists did not like this so much that already on november 5 of the same year , an anglo-french landing force landed in the area of ​​the egyptian port of said, the goal being to regain control of the trade gates of the world. the plan was almost a success, but the aggression of great britain, israel and france caused discontent in world. the position of the soviet union, which was believed to be occupied by the conspirators in budapest, turned out to be especially active. nikita khrushchev, even. threatened to intervene, an explanation was sent to the british and french comrades, as they say, in such circles, where it was shown how many megatons of nuclear charges should be put on england so that it would not exist, and how many on france. at 3 days they st

war , england, which controlled egypt, decided to take over palestine due to its proximity to the suez canald increase the security of the areas under its control in the arab and north african regions. britain with this won the way he chose the zionist movement as his partner in the new colonial order. in the middle of world war i, a secret agreement was drawn up by an english politician named sir mark sykes and a french diplomat named francois georges picot. the saxe-picot agreement effectively paved the way for the establishment of a jewish state in palestine. in 1917 , british prime minister lloyd george promised a land for the jews. a month after the balfour declaration was published on december 11, 1917, the british army led by general edmond captured al-maqdis. next to general alan bey , the jewish company under brig. from the population of half a million muslims and christians. at the first world war ended in 1918, and the victorious powers prepared to divide it according to the agreement. sykes became pico in the middle east. preparations were made for the peace conference in 1919 in

you still have major segments of the market that are shipping through the suez canal and through areasegion. you have jetta and a lot of major ports in that region, and the major countries that they are still shipping through are in asia, and in particular, india. so you are going to see shipping impacts and costs and inflation impacts on many of the goods that are shipping through india, in particular rare earth materials, critical minerals that are used in global technology products, and then you are also going to see actually a supply chain impact on oil and gas industries because a lot of methanol actually shipped through those ports. you're going to see a global impact but it is going to be really felt in asia right now because those are the places that are still dependent on this major thoroughfare, this major shipping route. katie: you touched on what i've been wondering about which is where we should be looking for the ripple effects, what industries we should be keeping an eye on. it sounds like oil, definitely but also rare minerals and things along those lines. >> absolutely

my favorite example is the suez canal boats, lodged in the suez canal and caused $54 billion of damage brittle, that when anything goes wrong and any noise comes into the system, things can fall apart very quickly. i also think it is important to think about in modern politics. we know some speculation, the moment trump decided to run was when he was joked about by barack obama in 2011 at the white house correspondents dinner. but also when you look at the map of georgia, one of the crucial states, there is a little sweep in county level election results, you can see on the map and that is basically the coastline, from an ancient inland sea, 65 million years ago, where phytoplankton settled around that coastline, the soil became extremely rich and when the slave trade got started, that is where people set up plantations, and the demographic manifestation of that today, that is where a lot of the black voters in georgia are clustered, and those are some of the counties that ended up carrying 2020 for joe biden in that state, and also, the senate for the democrats. you can visualize it,

israeli operation in gaza have been taking place — the bab al—mandab strait, leading up to the suez canal manufacturers. but this is the one to really watch — the strait of hormuz, between iran and the united arab emirates. a fifth of the global oil supply flows through here. disruption to oil tankers here really could have a profound impact on global energy prices. so iran can use drones, like the houthis, can use drones, mines, ships, to interfere with the flow of oil and gas. all they have to do is scare the insurance companies and tanker companies into not transiting. could we offset that somehow with new supply? and the answer is no. we think crude oil prices would go well into the $100 range, $120, $130 level, and then, you know, most oil price spikes end with recessions. the assumption has been of the post—pandemic, post—ukraine invasion, inflationary shock waning really quite fast. and politicians seeking re—election across the world — from joe biden to rishi sunak — have been looking forward to central banks cutting interest rates and giving households some financial breathing sp

in the first month of 2024, the number of ships passing through the suez canal reached 54, which wasan 770 in january 2023. the reason for this decrease is the continuation of the gaza war and the ban on the passage of the zionist regime's ships through the red sea. about 30 % of container ships in the world pass through the swiss canal. the pakistan army announced that in a security intelligence operation in the northwest of the country, four terrorists had a history of attacking troops pakistani security forces were killed. this operation was carried out in the province of khyber pakhtunkhwa and on the border of this country with afghanistan. according to the announcement of security officials of khyber pakhtunkhwa province in 3 months. in the year 2024, at least 88 terrorists were killed in clashes with the pakistani security forces. the first minister of scotland has resigned from his position following political differences with the green party, the other party forming the coalition government. hamza yusuf, who is the first muslim prime minister in one of england's regions in th

about 30% of container ships in the world pass through the suez canal. the minister's promise to produce one million and 700 thousand cars, the spokesperson of the principle 90 commission says that according to the minister's announcement, one million and 700 thousand cars will be produced this year to compensate for the deficit in the market. of course, the ministry of education had promised the same amount of production for the year 1401, which was not realized. year 1400 car production had decreased to such an extent that the president ordered a 50% increase in production to regulate the market. this should be done immediately and a large part of these cars should be given to the people who are in turn and they have the right to have their cars handed over to them in their own time. the ministry had announced that the production of cars should reach 1 million 700 thousand units in 1401 and for the year. according to the latest statistics of the ministry , despite the promise of producing 1 million 700 thousand cars, 1 million 34 thousand cars were pro

and every single ship going through the suez canal is stopped. these are the very real tactics that are ron, and indeed other nations can, can deployed against any escalation. so i think they may launch a lot of planes in the air and make a lot of chest bumping and uh, fire off the navy horns of the ships. but those ships will stay far away from yemen . far away from iran. and those plains won't dare fly over any country to go against a ron because you already see the other muslim nations like kuwait and oman and, and, uh, guitar and elsewhere. saying they will not allow their air space or their land to be used in attacks against iran. so that shows you the entire muslim world of saudi arabia, kuwait guitar, amman, united arab emirates. they are all slowly guided towards the, the, the policy of we do not want to war to escalate and we are stopping the united states from even thinking about it by telling them in no uncertain terms, do not fly your planes over our countries to go against or iran, we do not give you permission, and that means we do

have been using these weapons and largely halting commercial shipping through the red sea into the suez canalgravely damaging egypt and egypt's economy and adding substantial cost international shipping, largely inflated because of covid and adjustments the global shipping industry made in response to that crisis. thus far, international commerce has not been all that heavily affected by what the houthis have done but houthis would not have been able to do it if it were not for the very large number of weapons that iran has supplied over the years so that works quite nicely for them. these relationships work to the advantage of iraqi initial -- iraqi initial's aligned with iran, they receive services from iran that help them press their agenda within iraq. these are examples of symbiotic relationships between iran and these other groups and the united states does this. it is a classic strategy. the united states uses the kurds as proxy, i am not equating it but in functional terms the kurds serve as proxy warfare for the united states and the united states has not perfected the proxy warfare,

one country keenly feeling the impact of shipping, now largly avoiding the route through the suez canal

they can't get through the suez canal. going around africa.it's adding time, to the cost significantly the impact of foreign trade. all of these things as a result of the houthis and what they're doing in that area. aiming at ships, sometimes with drone, sometimes with missiles. it's over 11 miles while i was there at the point looking at how close things were. the day i get back, the times does a big expose about the administration falling on the job on trying to stop the sale of oil to china. they reported 59 million- barrels of oil on they described them as shadowy tankers. that left iran and all of these have have ended up in china. and then, the cash from all of this ended up in iran. and at the lowest prices of oil would be $2.8 billion but likely much more as prices fluctuate. secretary of treasury came to congress she testified this is before that report came out. that all things are fine, we're doing everything we can. the american people don't believe it. the american soldiers that are there risking their lives don't believe it. beca

we would instrumental in the piece in the suez canal of crisis in 1956. and we brought in a un peacekeepers off of the 1967 wolf who lingered for a long this time, i would regroup job to the 1973 will also, whenever was a could, we will help us. but we will prepay, able to restore peacekeeping operations today, i find no immediate prospect of doing anything meaningful. i would certainly want to you in to lead efforts for peace. but the fact is that the is really a government of, with what they consider to be just cause off to the heating is attacks of the 7th of october on innocent civilians. they have a mock diploma campaign which as you know, many have considered as bordering and genocide. and in the circumstances of the un kenyon reactive, the security council unanimously agrees on an intervention that to that, to stop this kind of felt like the security council is not agreeing because the us and, and some of its allies are not sympathetic to any desire to impose a piece upon these remedies, but there is a serious amount of, of talking going on behind

in the first two months of this year, suez canal trade dropped by 50% from a year earlier, while tradee collapse of the francis scott key bridge in baltimore, may also add to the issues on the east coast of the united states, and only yesterday denmark was forced to close one of the world's busiest shipping lanes following a failed missile test. so is shipping facing a perfect storm? let's examine this with peter sand, chief analyst at freight analytics firm, xeneta. hello, peter. is it a perfect storm or is there more going on? i storm or is there more going on? ~ , storm or is there more going on? ~' , ., ., on? i think there is more going on? i think there is more going on that affects _ on? i think there is more going on that affects global - on? i think there is more going on that affects global maritime j on that affects global maritime shipping than only a few years back, and you may call it a perfect storm but coming from geopolitics going sour, it is coming from a claimant related issue and coming from like the great buildup of denmark yesterday. a lot of contingencies to mana

if you look at where the impact is, you look at a country like egypt where suez canal fees are down 50% and it is impacting the currency, impacting the ability of their economy to function. you look at the movement of humanitarian supplies in the sudan, and desperately poor situation. violence prevailing there. that is very disturbing. the ethiopian economy also suffering and yemen itself. the mnes themselves -- yemenis themselves are being hurt. the decrease of commercial activity going into yemen's own ports. >> it strikes me that we are there at huge risk and huge economic impact for ourselves in order to support the chinese economy. and to support the economies of people on the red sea who are all sitting back quietly supporting iran. who is giving the support that the houthis are relying upon. i find it -- i wonder -- i mean, what are the strategic options here? one is to say we are out. you want to close down the red sea, that is up to you guys unless you want to step in and protect it. the idea that we are there, suffering, and these people are not defending themselves and puttin

charges 10 to 15 times higher if you ship through the red sea and suez canal.nce is the same. remember, the war exclusions are still present. a major reinsurance business is impacted. the ceo said he is weighing the risks for assets and liabilities. on the liability side, this is the exposure for the customers. on the asset side, investment portfolios are conservative. they are made up of bonds which can be impacted by economic shifts and changes in interest rates and foreign exchange. it is the swiss re and hannover re has limits on exposexposure. the risk monitor warns the escalation in the middle east will impact business plans and the premium rates and risk management. frank. >> contessa, when you talk to the insurance companies, do they see warnings from the broader economy? >> yeah, because already as i said if you have shipping insurance sky rocketing, what it means is you are taking longer for most of the shipping to go around the horn of africa. that impacts the supply chain and costs. if you look at the issue of trade credits and this pressure that ge

inauguration speech the president emphasized his intention to maximize the economic role of the suez canal. the video posted last august detailed her meals adding up to only 755 calories a day. the advertising standards authority said the ad was "irresponsible" and must not appear again. price has since taken down the advert from her instagram account. now i want to show you some pictures out of south korea. hundreds of people braved heavy rain to bid a tearful farwell to bid a tearful farewell to the first giant panda born in the country. fu bao has left the zoo she was born in 2020 in a high—tech truck to return to china. last month thousands for the rest of this week, low pressure is really in charge of our weather. we have got low pressure after low pressure system coming pressure system rattling in from the atlantic into the south—west and pushing north—eastwards, each one bringing some rain, some heavy rain, and as we head into the weekend you will see the squeeze on the isobars, it is going to be windy, particularly on saturday, with some of us having some gales. so, with all that r

is send the air force in, navy in, take care of the houthis in the red sea and take care of the suez canal be okay. the other problem the commander in chief has created is he's shut down alaska again. if you bring the price of crude oil and gasoline down and drill biby drill, guess what? inflation goes away. guess what, interest rates go back down to normal and i'm going to disagree with some of our other people about the budget. the budget if they have confidence in the commander in chief. guess what? going 40 trillion going back to 200% interest rates and i'm more concern confidence in washington, confidence to create a situation where we're running the world instead of having russia and opec nations running with us. ashley: i'm talking about rampant crime and going from them sounding off about crime in new york city. listen to this and i'll get your comment. >> i walked the streets of new york and i see the way crime is as far as like people asking other people for money. talk about quality of life. not just people going crime is down and murder is down. it's the quality of life walking

think it's a difficult decision for a shipowner to put their crew in peril by going through the suez canalhrough the southern red sea at this -- it is not safe. which is why we are going around the south africa. sonali: put on your macroeconomic hat here. if you had to predict the direction of travel here between fuel and commodities do you think -- do things get a lot worse in terms of prices? john: what's interesting is we have been shipping a lot. not just a lot of iron ore and cold but from an unseasonable standpoint usually the first quarter is the softest time of the year. what we have seen our higher freight rates. if you look at the guidance we put up for first quarter a couple of weeks ago, we showed higher freight rates in the first quarter that we booked in the fourth quarter. highly unusual. usually because of rainy weather in brazil there is not enough iron ore shipped. this year with el niÑo it has been very dry. the price of iron hovered around $150 for a long time. inventory levels from china needed to be restocked. we had a perfect storm and freight rates outperformed in t

cancellation clauses and war exclusions, insurance fees for shipping through the red sea or the suez canalre now roughly 10 or 15 times greater. aviation insurance skyrocketed and the industry warns the economic impact will spread beyond insurance and beyond the middle east. reed soyer, 22 year veteran of the u.s. army, you're coming at this with perspective that is badly needed right now. can you give me a sense, first of all, of what you're seeing as the biggest threat as we speak, not knowing what israel's next move is going to be. >> yeah. great to be with you contessa and tyler. i think the biggest threat that we see here is organizations overwhelmingly are struggling in some cases underestimating geopolitical risk. the fact that they're struggling to understand what it means, how it can impact them and what those follow-on effects are to them and how that can challenge their strategy really is creating a lot of uncertainty and volatility in the environment as we think forward. really, this idea about do we have the right lens to evaluate what's happening in front of us. >> we're show

the countries of egypt for example and other surrounding countries and trade going through the suez canal that has to go around the cape for example. it is terrorism of the worst kind and very similar to what use to take place when the navy was first started by john adams and the first secretary of the navy. there remains our mission today and i would like to think that over the course of the 6.5 years and months that any marine corps really has proven their worth and their return of investment on american taxpayers and what they have invested in our strong maritime power. susan: that is a great time to turn to the audience and get some questions. i will remind everyone that we do not have much time, if you can please be very succinct and your questions and go from there. sec. del toro: i apologize, i have a significant meeting i have to go back to but i am leaving here with the most powerful individual in the department of the navy, mike, who will remain and answer any questions i cannot get to. susan: there you go! [laughter] let us go over here. >> we got some details on the potential

europe had supply chain issues getting things through the suez canal if because of the middle east conflicton. these are one-off a events. and fremont, one of the largest facilities, did a plant shutdown to upgrade the mold 3. that's unlikely to be repeated next quarter and later in the if year. the cyber or truck's been a flop, and the $25,000 car is late. looking forward, it looks like a tough year, but it still managed to take the crowd from byd -- [inaudible] stuart: okay. but tell me what turns things around a for tesla? what take -- makes that stock go up? >> well, i i think long term the $25,000 car, and they're probably ahead of everybody in the acon the mouse vehicle -- autonomous vehicle ca guy. you're absolutely right, that's why 2024's going to be tough. you've not to ramp up supercharger and service revenues. keep in mind it's the first year where all ev drivers are going to be allowed to use the tesla charger. so that's good news. i think they're going to produce about $10 billion in that category. secondly, and most people don't even know tesla has an energy division can, but

it would be less of an impact from what we are seeing in the suez canal were with the who the rebels.l, this is what they want to try to establish. they talk about this being for commercially essential vessels. what does that mean, exactly? what is deemed essential? >> that is a fantastic question and i do not know the answer to that. i would imagine products like health care products and things that we need, not things that we want. i do not know how they would find those needles in a haystack . it might be very hard for them to do that. i think what they will do is try to find some priority for some freight that needs to get in and out the port, but it remains to be seen. >> how much do you think the focus on getting the port up and running plays off of the ability of pennsylvania and governor schapiro to reopen 95 in such a quick period of time? it seems u.s. officials are more focused on being able to use these crises as demonstrations of ability to get things done rather than huge problems that are going to take forever to fix. is that your sins as well? >> at a time -- this is a

hotspot we see happening with the attack on the ships that to the point they can't get through the suez canal, they're going around to africa and it's adding about 12 days to transit time. concern adding to the costs. significantly impacting foreign trade. all of these things as a result of the houthis and what they're doing in that area. i mean, sometimes with drones, missiles, it's only about 11 miles, i was there at the point looking how close things were. they are in hotspot. the day i get back the new york times has his exposi about the fact that the administration has fallen down on the job trying to prevent the sale of iranian oil to china. the reported 59 million barrels of oil, they described them as shadowy tankers, that left iran and all of these have ended up in china. and then the cash from all of this ended up in iran, and they said the lowest prices of oil would be $2.8 billion, but likely much more, prices fluctuate. secretary of treasury came to congress, she testified, before the report came out, thing is fine and we're doing everything we can. the american people don't beli

distortion in suez and the red sea and the flows between europe and west of europe through the suez canalis now adjusting, trade rates are adjusting. we are seeing the distortionary impact cleaning up even as we move into the summer. it's a more complicated market than we've ever seen before. you can't even look at inventories which is one of the most misleading data points that people are parading out. comparing where inventories now with where they were a month and a year ago, that's not the point. the point is we have to look at inventories discreetly and look at them in terms of forward cover. if we look even at the u.s. where people argue that we are in a market which is showing a tightness on the gasoline side, it's the third-highest of the last three years. it's more of an average market than a market below inventory. we've got to get used to a new set of indicators as we look at markets and help us make judgments about where prices are likely to go and where the trading community should be going. annmarie: i want to talk to you about demand because you have a contrary view and you

the second reason, suez and panama canal is be able to pass through.nt increase from china mainland. those contributing to major challenge for logistics. romain: i'm glad you brought up china. most of what they are exporting is ev's or competitors to mazda? >> combination between battery and internal combustion. depends on the bland. >> what car will sell the most in the next say five years? >> internal combustion engine has support from consumers. and secondly i see great potential in the hybrid. that is a product solution for customers. there is no anxiety for range. that is an attraction. lizzy: exclusive food conversation with the mazda ceo, but the focus today is u.s. inflation out 1:30 p.m. london time. it's been a bull be path so forth for the u.s.. you can see how sticky core inflation has been. if you strip out food and energy you can see it here, but we can look at potential market reaction because nervous traders have been pretty nervous in the run-up to economic data. you can see the difference between the one-day vix and the spirit light b

underway with the iranian navy escorting their commercial vessels from the gulf of aden to the suez canalis preparing for potential retaliation in the waters? adm. stavridis: clearly, they are. let's call immediately before, a day before the strike against israel over the weekend, the iranian navy in what can only be described as an act of piracy, seizing a large merchant ship that is ultimately owned by israel, by an israeli business concern. iran kicked off that cycle as well. the israelis have to be contemplating something in retaliation that, hence the export i the iranian worship. lisa: i've been trying to figure out why iran has felt so old and to attack israel on its own land, move out of the shadows. how much are they emboldened by relationships with russia and china? adm. stavridis: you have put your finger on it, that is what's different. over the last three or four years, particularly russia, iran is beginning to feel very comfortable in this partnership that they have developed which, at its heart, is transactions for weapons with iran providing very significant, fairly sophis

the eastern mediterranean flows into the suez canal, which goes into the red sea and indian ocean andf having to go around the cape of good hope around the bottom of africa. it cuts thousands of miles off the journey. it is a place where oil pipelines from southwest asia cross to the eastern mediterranean, cross to a new regional power-turkey. to the instability of the caucus region in the post-soviet era. it is a world pinch point. israel being there makes it more complicated. we have supported israel for the entire existence of the state of israel. our arab friends, the few of them that we still have in the region, know that. a short time ago, israel was quietly making new agreements with a lot of countries in the region, establishing new commercial and diplomatic ties. it looked like the area might finally be turning a corner. the leader of hamas did something awful. and from his point of view, very strategic, by attacking israel just at a time when it would cause a cleavage in the arab world if israel retaliated. that is exactly what has happened. it is a very tough nut to crack f

many countries rely on being able to travel safely up through the suez canal into europe and vice versaas long threatened to shut down the strait of hormuz. they can do that directly based on the geography. now, they are using the proxy to threaten one of the other four or five maritime choke routes in the world. from october to late january, you have over 165 attacks on u.s. forces. because of the failure to respond strongly, you had the incident where tragically three american service members were killed. only after that, the administration finally responded with strength, conducting more than 185 strikes and killing the head of hezbollah in iraq. you know what happened after that? not a single attack on u.s. forces in iraq and syria. once again, underscoring that when we confront them with resolute american power, they tend to back down. host: we will go to regina calling from virginia on the independent line. caller: good morning. thank you. i am a little puzzled because you said iran did an unprecedented attack on israel. but i recall israel attacked iran first. israel is constantl

many countries rely on being able to travel safely up through the suez canal into europe and vice versaas long threatened to shut down the strait of hormuz. they can do that directly based on the geography. now, they are using the proxy to threaten one of the other four or five maritime choke routes in the world. from october to late january, you have over 165 attacks on u.s. forces. because of the failure to respond strongly, you had the incident where tragically three american service members were killed. only after that, the administration finally responded with strength, conducting more than 185 strikes and killing the head of hezbollah in iraq. you know what happened after that? not a single attack on u.s. forces in iraq and syria. once again, underscoring that when we confront them with resolute american power, they tend to back down. host: we will go to regina calling from virginia on the independent line. caller: good morning. thank you. i am a little puzzled because you said iran did an unprecedented attack on israel. but i recall israel attacked iran first. israel is constantl

the eastern mediterranean flows into the suez canal, which goes into the red sea and indian ocean andf having to go around the cape of good hope around the bottom of africa. it cuts thousands of miles off the journey. it is a place where oil pipelines from southwest asia cross to the eastern mediterranean, cross to a new regional power-turkey. to the instability of the caucus region in the post-soviet era. it is a world pinch point. israel being there makes it more complicated. we have supported israel for the entire existence of the state of israel. our arab friends, the few of them that we still have in the region, know that. a short time ago, israel was quietly making new agreements with a lot of countries in the region, establishing new commercial and diplomatic ties. it looked like the area might finally be turning a corner. the leader of hamas did something awful. and from his point of view, very strategic, by attacking israel just at a time when it would cause a cleavage in the arab world if israel retaliated. that is exactly what has happened. it is a very tough nut to crack f

around the world, and ships are having to move faster, because now you can't go through the suez or the panama canal you have to go through the cape, so that takes longer. so we have much longer routes at faster speeds, driving up demand considerably. now we're thinking consumption growth is going to be a lot firmer in 2024. >> do you expect that demand to hold up, especially when we talk china numbers? are you seeing this is an uptick or more of a blip? >> we think this is more sustained. i think it's more sustained and one of the challenges that the market will likely face and will some come to it is the expectation of a june rate cut. followed by two more cuts into the second half of the year. so i think we are back into this mode and this battle royale as we called it before between oil and money. we see oil prices fighting the fed once again. we'll see. it's been an interesting battle between opec and the fed. >> we just spoke at the beginning of the show, especially markets are reflecting some skepticism about that rate cut in june. i think it was the beginning of the show said that's about 50