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US Considers Using Iranian Assets to Finance Gulf Reconstruction

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The U.S. plans to redirect Iranian assets to Gulf states to support rebuilding and repair of damage caused by Iran, a source said on June 6, as Tehran continued drone launches after striking Kuwait and Bahrain.

    1. They're strong, they're proud, there are things they never thought they'd be doing that they're going to have to do. They've got no choice, and it takes a little while.
    2. Today I looked at $96 a barrel, people thought that was going to be $300 a barrel.
    1. Commodity prices are up by 50% or 60%, Asian LNG prices by 90%, but they're not at the sky-high levels that at least I would have personally expected.
    2. Over three months into this conflict, the world has proven surprisingly resilient.
    1. As a bare minimum of what counts as a 'meaningful recovery' I think that we would need to see a full week averaging 20 ships per day — and that's not realistic until there is a durable US-Iran settlement, which keeps getting pushed out.
    1. The extent of which has taken most of the market by surprise.
    2. China's backing off from the crude market has played a crucial role in attempting to rebalance the global market, which has helped cap oil prices.