All right, Alexandra, let's talk about the oil price ceiling,

which looks like it's not much of a ceiling,

at least according to a recent Bloomberg article.

What is going on here?

The Russian, sorry, the Russian oil price ceiling.

Yeah.

Be specific here, yeah.

It's Russian oil that has this ceiling. Anyway, what is going on here?

This is such an interesting story in some ways, and it's interesting again because of the enormous

publicity that this whole thing got last year. And you remember, you know, Janet Yellen coming

up with these proposals. There was discussions within the G7 in the autumn.

There was this decision at the start of this year.

There was a huge amount of publicity.

The media was talking about it.

Long articles in the Financial Times.

Long articles in New York Times. long articles in all sorts of places.

And to all intents and purposes, the oil price gap has collapsed.

Nobody is talking about it.

You have to look for places like Bloomberg and Business Insider to find out about that fact.

You know, even zero hedges covered it, but only not very much, actually.

So what's happened is really very simple.

Oil prices were low for much of this year.

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