[00:00] That oil will not land on your doorstep until the 7th of November. The 7th of November. Okay. If the Houthis do manage to go north of Viamboo, I mean, who knows when you're going to get that oil.
[00:17] But the oil you order today and until Suez gets closed, and I don't think that will happen, it's going to take you about 54 days round trip or sorry 54 days one way to get your oil to asia
[00:29] and then 54 days for that ship to come back okay what's happening during this time china is paying a premium for every barrel of oil that they're buying you see the espio grade out of russia
[00:43] which is the major relief valve for right for chinese buying now that's trading at a seven to dollar premium above Brent. Now, I haven't checked in on it since probably Thursday last week. As Brent is moving into these new
[00:57] highs, that premium will probably get compressed, obviously. But they don't really care how much it is. They care how fast they can get it. And if you recall a video I did a little back
[01:10] like maybe a week or two weeks ago, they can get that oil delivered in five days on a ship, okay, from Russia.