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Bloomberg Audio Studios. Podcasts, radio, news.

This is the Bloomberg Surveillance Podcast.

I'm Jonathan Ferro, along with Lisa Abramwitz and Anne-Marie Hordern.

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Here's the latest this morning. Brent climbing back above 11 as President Trump weighs Iran's

latest proposal to end the war. The Treasury Secretary Scott Benson saying the. blockade is forcing Iran's oil industry to shut with gasoline shortages to follow. Join us now to discuss. I'm very pleased to say. The U.S. Energy Secretary, Chris Wright, joined us for more. Mr. Secretary, you are in Croatia, I believe. We can talk about the relationship between the U.S. and Europe in just a moment. We have to lead with Iran this morning. Mr. Secretary, in your mind, how much storage capacity does Iran have left?

And what's informing that conclusion at the moment? Well, look, there's monitoring of storage

tanks at Karg Island and around the nation of Iran. But yeah, they don't have a huge amount of

storage capacity. And they've got have a huge amount of storage capacity,

and they've got old reservoirs that are low pressure,

which means it's much more destructive if they have to shut in their production.

Kepler, Mr. Secretary, is talking about 12 to 22 days left that Iran has in terms of storage

before they have to shut in.

...