美国副总统万斯称美伊冲突非战争，霍尔木兹海峡通行量恢复至日均600-800万桶

I wouldn't call it a war. Right now, there is no active shooting. I recognize there is. There have been places where this is flared up. Uh, major combat operations again. Major combat operations lasted for about six weeks. Okay, the president himself, of course, does call into what U.S. Vice President JD Vance speaking at the white House press briefing yesterday. His comments coming just days after the US launched new strikes on Iran in response to attacks on oil tankers trying to pass through the Strait of Hormuz.

Oil inching a little lower this morning but heading for its biggest weekly gain since July. Let's bring in Bloomberg's about Abu Omar in Dubai. I mean, what is the latest right now out of the strait. Yeah. Good morning Tom. More of the same essentially of what we've been seeing over the past few days or so. It's worthy to say, however, that the military escalations have eased here in the region. We're still seeing, of course, a trickle of movement through the Strait of Hormuz.

Again, worthy of noting nowhere near where we were prewar. Of course, Bloomberg's own reporting suggests that we're seeing about 6 to 8 million barrels a day going through the Strait of Hormuz. The US Secretary of Energy, Chris, right, had suggested that earlier in the week we saw about 18 million barrels make their way through the Strait of Hormuz. But when it comes to the wider geopolitical scene, Tom, it's again these tit for tat strikes that have started and now we're seeing them ease again.

JD Vance, of course, saying that he wouldn't call this a war. Even so, this conflict that's been going on for more than six months at this point, you wouldn't classify as a war. And our own reporting suggests that this might not fly well with Americans or the domestic situation in the U.S., especially with those looming midterm elections with 18 servicemembers killed in the United States, hundreds other injured, of course, and 3500 people in Iran.

So the question here really is what is the endgame and who is set to win? Bloomberg Economics suggests no one is set to win at this point. And just to be sure, the the toll on Iran is quite heavy. The economic toll is quite heavy, but it's just not enough yet for Iran to capitulate, especially with the realization that the United States is facing or President Trump is facing those midterm elections in November. So again, more of the same, you're seeing Brent crude prices headed towards a weekly gain, albeit a little bit lower today because of those easing situations in the Strait of Hormuz.

We spoke to Mary's CEO earlier, of course, the Maritime Security Organization that takes a look at what is happening in the Strait of Hormuz. And even he was telling us that the situation ahead of that Labor Day weekend in the United States is a little bit better than one would have expected at the beginning of the week. So of course, we just now keep an eye on energy levels, energy prices, especially with diesel, of course.

U.S. diesel still at a four year high in the in the U.S..