Amos Hochstein on U.S.-Iran war: We're seeing the consequences of a hurried deal

• The U.S.-Iran ceasefire/MOU has ended, leading to strained talks and limited exchanges, not a full-fledged war.
• Markets are underpricing significant risks, including escalating conflicts in Yemen and Ukraine, and constrained U.S. oil inventories.
• Iran has benefited from increased oil sales during the MOU and views control of the Strait of Hormuz as a key leverage point, making a long-term resolution difficult.
• Current WTI crude at $73.70 and Brent crude at $78.43 are considered 'a bit low' relative to the unpriced risk.

Amos Hochstein discusses the end of the U.S.-Iran ceasefire/MOU, highlighting strained talks and a period of 'limited exchanges' rather than full war. He believes energy markets are underpricing the 'enormous amount of risk' from geopolitical tensions and constrained supplies, suggesting current oil prices are too low.