Ira Epstein discusses the geopolitical tensions involving Iran, particularly the U.S. policy changes regarding the Strait of Hormuz and the enforcement of blockades on Iranian shipping. He highlights the ongoing efforts by Congress to limit Russian oil purchases by certain countries.
Epstein also covers various market updates, noting that heating oil has reached new contract highs while natural gas remains weak. He mentions upcoming economic reports, including the Mortgage Bankers Association number and PPI data, and reviews Fed Chair Warsh's recent testimony before Congress.
Lastly, Epstein comments on the persistent weakness in gold prices, which have declined by approximately 1.18% for the week.
Video Length: 00:08:34
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