Oil Loss From Hormuz Closure Tops 1.2 Billion Barrels: S&P Global

In the wake of the Hormuz Strait closure, global oil supplies are dwindling, potentially leading to a summer price spike. S&P Global's Dan Yergin discusses the situation, highlighting Iran's control over the strait and the impact on oil prices and global fuel demand. He also addresses concerns about insurance and the vulnerability of ships passing through the strait.