United Refining Chairman and CEO John Catsimatidis joins ‘Varney & Co.’ to discuss the current spike in crude oil prices, the geopolitical situation surrounding the Straits of Hormuz, and his optimistic outlook for markets and the broader economy. Catsimatidis provides a timeline for when he expects oil prices to significantly drop once the Straits of Hormuz are secured.
00:00
Introduction & Oil Price Spike
00:45
Military Plans for Straits
01:30
Oil Price Forecast: Weeks
02:15
United Refining’s Sourcing
02:45
Market Optimism & Rebound
03:15
Future Stability & Food Prices
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