The speaker states that as long as the Strait of Hormuz remains closed, global oil prices will stay at elevated levels, causing continued pain for consumers. He emphasizes that reopening the strait is critical to stabilizing costs. The Strait of Hormuz is a critical chokepoint for ~20% of global oil supply. Its closure creates a physical supply constraint that directly supports high global benchmark prices, irrespective of U.S. production levels. WATCH because the sector's near-term price trajectory is directly and disproportionately tied to a single, unresolved geopolitical event—the reopening of the Strait. A swift diplomatic resolution and reopening of the Strait of Hormuz would likely trigger a sharp correction in oil prices, removing the key support.