UBS On-Air: Paul Donovan Daily Audio 'Oil bubbles up again'

The crude oil price is creeping toward USD 90 per barrel. US President Trump responded to Iran’s demands for reparations by demanding Iran pay reparations—this is not the sort of concession the US will be required to make to reopen the Strait of Hormuz. It is too soon for the recent rise in crude oil to show up in US retail gasoline prices, so domestic political pressures have probably not yet peaked.