Description:
Diesel and gasoline prices are hitting historic highs as Donald Trump admits the United States is at war with Iran, a war he now says will not end until after the midterms. The Duran on the energy shock, a Houthi offensive against Saudi Arabia, and Scott Bessent's plan to use that shock against China.
Timeline:
00:00:00 Diesel and gas prices hit historic highs
00:00:31 Trump admits the US is now in a war
00:01:00 Why the entire economy runs on diesel
00:01:59 Rising diesel prices threaten higher inflation and rates
00:03:21 Europe faces dangerously low natural gas reserves
00:05:28 Strait of Hormuz remains closed with no end in sight
00:06:04 Houthis reopen the war with Saudi Arabia
00:07:04 Trump moves the goalposts and offers a 5000 dollar bribe
00:08:48 How Trump squandered a real deal with Iran
00:14:34 Bessent bets on financial engineering to outmaneuver China