THE HALFAX HEIMDALL AUGUR

Washington, Saudi Arabia, Iraq, and Kuwait Are All Looking at Neutralizing Iran’s Leverage https://www.europesays.com/iran/193657/ The 2026 Strait of Hormuz crisis has exposed a critical vulnerability in global energy markets: Iran’s ability to…

Oil exports through Hormuz might not return to levels before Iran war The oil market might face a new reality after the Iran war in which exports through the Strait of Hormuz do not return to the levels once considered normal, as shipowners now have to weigh the risk that fighting could abruptly break out in the volatile Persian Gulf. And Western commercial ships will likely hesitate to sail through Hormuz if it remains under Iran's de facto control, especially if they have to coordinate with the Revolutionary Guard, putting them at risk of violating U.S. sanctions. It is a scenario with consequences that are difficult to foresee given the vital role that Hormuz plays in global energy markets. Freedom of navigation through the strait was never seriously challenged until Iran basically closed the sea lane in response to the war launched by the U.S. and Israel on Feb. 28. Iran's blockade of Hormuz has triggered the largestoil supply disruptionin history, putting pressure on theU.S. to make a dealas the threat to the global economy grows by the day. Tehran appears intent to use this leverage to consolidate control over the strait in a settlement that ends the war. Middle East lea…

Return to pre-crisis oil and gas supplies months away even if strait of Hormuz reopens <p>Markets welcome US-Iran peace deal but prices may stay high as buyers race to refill depleted emergency crude stockpiles</p><ul><li><p><a href="https://www.theguardian.com/business/2026/jun/15/oil-prices-fall-strait-of-hormuz-reopening-hopes-iran-us-peace-deal">Oil prices hit three-month low and markets rally</a></p></li><li><p><a href="https://www.theguardian.com/business/live/2026/jun/15/oil-price-low-stock-markets-rally-us-iran-peace-deal-ftse-wall-street-live-news-updates">Business live – latest updates</a></p></li></ul><p>After more than 100 days of the greatest recorded disruption to the world’s energy supplies, the global oil and gas markets have breathed a sigh of relief.</p><p>Hours after Donald Trump confirmed that a US-Iran peace deal would lead to the reopening of the strait of Hormuz to tankers carrying millions of barrels of oil and gas, the price of Brent crude <a href="https://www.theguardian.com/business/2026/jun/15/oil-prices-fall-strait-of-hormuz-reopening-hopes-iran-us-peace-deal">tumbled to lows of $83 a barrel</a>. Wholesale gas prices fell about 6%.</p> <a href="https:/…

Middle East crisis may be over, but how long before Strait of Hormuz goes back to normal? A tentative US-Iran deal signals an end to a 100-day conflict impacting global oil. While prices dipped, analysts warn full recovery of Strait of Hormuz flows will take weeks, possibly months, due to shipping bottlenecks and ongoing mine clearance. Producers await lasting peace assurances before fully resuming output, with full normalization expected gradually.

Fragile Iran deal offers oil relief, but Hormuz risks remain ANI Fragile Iran deal offers oil relief, but Hormuz risks remain London: The U.S.-Iran deal ending months of fighting and reopening the Strait of Hormuz will prompt a collective sigh of relief from energy exporters and importers alike. But the fragile calm may not prevent future flare-ups, casting doubt over how quickly - or fully - tanker traffic through the vital waterway can return to normal. Under the agreement announced late on Sunday, Iran and the U.S. agreed to lift their ​blockades on the Strait of Hormuz, through which roughly a fifth of global oil and LNG flowed before the war broke out on February 28. The strait is expected to reopen once both sides formally sign the accord on Friday. Also read: Trump leaves the hard part for later in long-awaited Iran deal That is obviously good news for supply-strapped energy markets, but the deal leaves unresolved the key disputes that triggered the U.S. and Israeli bombing campaign against Iran, including the future of Tehran's nuclear programme. That ambiguity opens significant room for confusion, disagreement and renewed confrontation. Indeed, tensions have already resur…

Qatar halts maritime activity, threatening 21% of global oil trade Qatar suspended all sailing and maritime activities from June 29 until further notice, exempting only vessels bound by international maritime conventions, as tensions around the Strait of Hormuz intensify. "This is a significant escalation in the campaign to control transit through the strait, and it directly threatens the global energy supply chain," said Elena Fischer, geopolitical risk analyst at Edgen. The move follows more than three months of disrupted shipping through the Strait of Hormuz, where Iran has attacked more than 40 neutral merchant vessels and killed several innocent mariners, according to reports. The strait, which narrows to about 39 kilometers at its most constricted point, handles roughly 130 ships per day carrying about 21% of the world's crude oil. The suspension raises the stakes for global energy markets already pricing in a prolonged disruption. Brent crude and natural gas prices face upward pressure as traders assess whether Qatar's move indicates a broader coordinated effort among Gulf states to restrict passage — or a temporary security measure that will lift within days. The Qatari Mi…

Hormuz shipping jitters send Asian refining margins soaring Asian refining margins have surged to their highest since 2022 as Iranian threats to shipping through the Strait of Hormuz have disrupted crude oil flows and forced refineries to cut runs, according to data and analysts. Oil and gas prices have soared as fallout from the US-Iran war has suspended trade through the chokepoint that typically handles more than 20 per cent of daily global oil supplies. Singapore's complex refining margins, a proxy for Asia refining profitability, jumped to nearly $30 a barrel on Wednesday as markets were roiled by crude shortages and expectations of further refining run cuts that could tighten fuel supplies, based on data from LSEG. China and Thailand have also suspended fuel exports that could reduce supply in the region. Jet fuel and diesel led the surge in margins among products in Asia. The margin for the aviation fuel breached $52 a barrel on Wednesday to its highest since June 2022, more than double from Friday, LSEG data showed. Cracks for 10ppm sulphur gasoil jumped to just above $48 a barrel, the highest since August 2022. "This is symptomatic of an impending shortage of feeds…

IEA: Oil Supply Chain Reserves Almost Entirely Depleted The closure of the Strait of Hormuz at the end of February did not cause an immediate supply chain failure because hundreds of tankers loaded with Middle Eastern crude were already sailing towards their destinations. These vessels took weeks to reach terminals in Europe and Asia. As they docked and discharged cargo, the existing pipeline of shipments masked thescale of the disruption. That buffer is now exhausted. According to the International Energy Agency's May 2026 Oil Market Report, global oil inventories dropped by 129 million barrels in March and 117 million barrels in April. This is the fastest rate of inventory depletion on record. The IEA released 400 million barrels from its emergency reserves shortly after the US and Israel began the war on Iran but even this intervention has not kept pace with the drawdown. "That excess supply is now dwindling at a record pace," says Georgi Kantchev from the Wall Street Journal, "with oil executives and analysts predicting that aharsh reckoningis set to upend the relative calm in energy markets." The waterway's closure cut off 20% of global fuel supplies, or more than 14 milli…

Even with a deal to reopen the Strait of Hormuz, it could take weeks or ... A person stands in shallow water as cargo and commercial vessels are anchored in the Strait of Hormuz off Bandar Abbas, Iran, Monday, June 8, 2026. (Amirhosein Khorgooi/ISNA via AP) A small motorboat passes anchored vessels in the Strait of Hormuz off Bandar Abbas, Iran, Thursday, June 11, 2026.(Amirhosein Khorgooi/ISNA via AP) A person sits in shallow water as cargo and commercial vessels are anchored in the Strait of Hormuz off Bandar Abbas, Iran, Monday, June 8, 2026. (Amirhosein Khorgooi/ISNA via AP) FRANKFURT, Germany (AP) — Thetentative agreementto end thewar in Iranand reopen the Strait of Hormuz would be good news for the global economy. But even as theprice of oil droppedMonday, many questions remained about when and how it would start flowing again through theworld’s most vital arteryfor energy shipments. Before the war, the strait carried a fifth of the world’s crude oil. Now, it will take time for hundreds of ships trapped in the Persian Gulf to exit through the narrow strait. And Gulf oil producers that throttled back production will need time to get the oil moving again. Analysts also say…

Strait of Hormuz isn't the ultimate 'trump card' for Iran — here's why Control of vital oil waterway emerges as Iran’s substitute for depleted 'hard power' Following losses to its missile, drone, and proxy networks in the 2026 US-Israel conflict, the Iranian regime is increasingly centering on the Strait of Hormuz for defence and global leverage. Analysts note a consensus among Tehran’s strategic planners elevating the strait — a chokepoint for 20% of global crude oil and LNG per the International Energy Agency — as a prime "asymmetric" tool after years of attrition. Analysts highlighted the strait’s role in imposing adversary costs and market shocks. According to the Institute of the Study of War (ISW) and its partner, Critical Threats Project (CTP), the Iran regime's strategy prior to October 7, 2023, and the subsequent regional escalations — including the intense Spring 2026 conflict with the US and Israel — relied heavily on ballistic missiles, drones, and a network of "proxy" forces, including those in Lebanon, Iraq, Yemen and Palestine. Those pillars have been significantly "degraded", elevating the strategic importance of the narrow chokepoint. On May 13, an Artesh (r…

Saudi Aramco Expanding Global Oil Storage Capacity BYMUFLIH HIDAYATON JUNE 18, 2026 Every few decades, a single geopolitical event forces energy markets to confront an assumption so deeply embedded that it had ceased to feel like an assumption at all. For much of the modern oil era, the implicit belief was that the Strait of Hormuz would remain passable. That belief has now been tested in a way that is reshaping how the world's largest producers think about where they hold their oil, and how quickly they can deliver it. The disruption of energy flows through the Strait of Hormuz during the Iran conflict did not merely tighten supply for a few weeks. It exposed a structural vulnerability that no amount of spare production capacity could fully offset: the absence of sufficient producer-side storage positioned close to consuming markets. For Saudi Aramco, the world's largest oil exporter, this exposure has triggered a strategic recalibration that goes well beyond routine infrastructure investment. Saudi Aramco expanding storage capacity worldwide is now a signal that the company's leadership has concluded that pre-positioned inventory in consumer markets is no longer optional. It …

Hormuz Risk Is Back: Why The Market Is Wrong On Energy https://www.europesays.com/3119214/ The collapse of the U.S.-Iran ceasefire in Hormuz creates severe friction for oil and LNG routes, exposing corporate…

Gas Prices Could Take Months to Return to Pre-War Levels Even ... It could take months for gas prices to fall to pre-war levels and economies to fully recover even after the U.S. and Iran signed a memorandum of understanding to end the war on Wednesday, analysts tell TIME, dashing hopes that countries around the world may find instant relief. Stock markets rallied this week, with crude oil prices falling around 10% . Gas prices dipped below $4 a gallon for the first time since March, as of Friday morning, a drop from this year’s peak of $4.56. Shipping companies have begun moving liquefied natural gas ships back to the Strait of Hormuz . The Strait, which Iran militarized at the start of the war in retaliation for U.S.-Israeli strikes on Feb. 28, carried around a fifth of the world’s oil trade before the conflict began. Despite some progress, analysts tell TIME that it may take weeks or even months for shipping through the Strait to return to pre-war levels, especially as physical risks persist. That means the price of oil and gas—as well as fertilizer, other commodities, and downstream products—will likely see a gradual, rather than sudden, drop. Traffic through the Strait has ti…

Strait of Hormuz closed: global energy shock and economic collapse of ... When War Does Not Explode but Paralyzes the Global System In contemporary geopolitical debate, attention is often focused on the risk of an all-out war in the Middle East. Yet there exists a scenario potentially even more destabilizing, less dramatic on the surface but far more destructive economically and financially: a prolonged military stalemate , characterized by persistent tension, the absence of diplomatic resolution, and above all the permanent closure of the Strait of Hormuz . In such a scenario, the conflict does not culminate in a decisive victory or defeat. Instead, it hardens into a long-term condition of systemic paralysis that impacts the global economy in profoundly asymmetric ways. The consequences would not be evenly distributed. Some economies would face structural collapse, while others could paradoxically emerge strengthened. The permanent closure of the Strait of Hormuz would constitute a shock of historic magnitude, capable of reshaping global energy flows, redefining market power among producers, and undermining the foundations of the Western economic system. The Systemic Role of the …

Why the world can't bypass the Strait of Hormuz — even with pipelines ... Iran blockade traps 10m bpd as Saudi, UAE bypass routes hit limits at $112 crude Dubai: As tensions escalate in the Gulf, a familiar question is back: if the Strait of Hormuz is so risky, why not just move oil another way? The scale makes that far harder than it sounds. Roughly 20 million barrels of oil — about 20% of global supply — pass through the strait daily, making it the most critical energy chokepoint in the world. And as the U.S. Energy Information Administration puts it, “some chokepoints have no practical alternatives.” The concentration is even sharper when you look at producers. Major exporters in the Gulf — including Saudi Arabia, Iraq, Kuwait and the UAE — rely heavily on the route for seaborne shipments, leaving limited flexibility when disruptions occur. A single supertanker can carry about 2 million barrels of oil. Replacing just one of those shipments would require around 10,000 trucks, turning any land-based workaround into a massive logistical operation. Scale that up to daily traffic through Hormuz, and the numbers quickly become unrealistic — hundreds of thousands of trucks, long-…

Oil and gas supplies could take months to return to normal after Iran ... The American Flag flies next to a One9 Fuel Stop sign displaying gas prices for diesel and unleaded gas in Wilmington, Ohio, Wednesday, June 10, 2026. Credit: AP/Carolyn Kaster By The Associated Press Updated June 14, 2026 10:15 pm Share NEW YORK — High oil and gasoline prices and energy supply problems won't be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world’s demand, according to energy experts. The slow pace of the process of shipping and refining crude oil, and doubts about the security of traveling through the strait mean the effect won't be seen immediately, they said. Ships loaded with crude oil have been stranded in the Persian Gulf for more than three months, unable to safely travel through the waterway, through which about a fifth of the world’s oil and gasoline supplies typically traveled before the war began. “It’s going to take time for people to feel comfortable and for insurance to be in place ... particularly to get people on the…

Strait of Hormuz reopening may take weeks - CNBC It will take weeks to clear the backlog of ships in the Strait of Hormuz, industry executives and shipping experts have warned, as the critical waterway is set to reopen. Oil prices initially dipped below $80 per barrel on news that the U.S. and Iran had agreed on a deal to end their war, as traders looked to the supply of oil, LNG and other goods being restored after nearly four months of war caused a maritime traffic jam of ships unable or unwilling to transit the Strait. U.S. President Donald Trump and Iranian President Masoud Pezeshkiansigned the memorandum of understandingon Wednesday night. It calls for the full reopening of theStrait of Hormuzwithout tolls by Iran for at least 60 days. But restoring enough physical supply to the market to keep prices at a stable sub-$80 level could take weeks, and in some cases months, market watchers have told CNBC. Operators, port authorities and energy companies across the Gulf remain in a holding pattern, with key logistical and security questions still unresolved. "The most likely scenario is a phased restart, with some form of traffic-management mechanism involving Iran and Oman," …

Fragile Iran Deal Offers Oil Relief, but Hormuz Risks Remain: Bousso Print 🖨 The U.S.-Iran deal ending months of fighting and reopening the Strait of Hormuz will prompt a collective sigh of relief from energy exporters and importers alike. But the fragile calm may not prevent future flare-ups, casting doubt over how quickly – or fully – tanker traffic through the vital waterway can return to normal. Under the agreement announced late on Sunday, Iran and the U.S. agreed to lift their blockades on the Strait of Hormuz, through which roughly a fifth of global oil and LNG flowed before the war broke out on February 28. The strait is expected to reopen once both sides formally sign the accord on Friday. Get the Latest US Focused Energy News Delivered to You! It's FREE: Quick Sign-Up Here That is obviously good news for supply-strapped energy markets, but the deal leaves unresolved the key disputes that triggered the U.S. and Israeli bombing campaign against Iran, including the future of Tehran’s nuclear programme. That ambiguity opens significant room for confusion, disagreement and renewed confrontation. Indeed, tensions have already resurfaced. Iran’s insistence on linking any deal t…

Times of India’s Edit Page team comprises senior journalists with wide-ranging interests who debate and opine on the news and issues of the day. Hormuz is witnessing both, but another long war and blockade are unlikely. India should buy oil on best terms What does China know about US-Iran war that others don’t? While oil prices rose and stocks fell on Wednesday, following news of fresh US-Iran skirmishing, China loosened curbs on its fuel exports. It will ship 3mn tonnes of petrol, diesel and jet fuel in July. For a country that’s been dipping into its emergency reserves for four months, this shows a high level of confidence about restoration of oil supplies from West Asia. But why? At first glance, Tuesday’s Gulf action bodes ill on the energy front. Three tankers were hit in and around Hormuz. Iran didn’t claim responsibility, but US and friends blamed it. US struck Iranian targets, and Iran hit Kuwait and Bahrain. So, is the truce over? Well, both sides have said so, and US sanctions on Iranian oil are back, with a 10-day grace period. But read between the lines. On last month’s interim deal, Trump’s said, “To me, I think it’s over…They can talk, but I think they’re wasting t…

A Strait of Hormuz "toll" would pose major economic and geopolitical ... Reports that Iran is planning to charge ships a toll to traverse the Strait of Hormuz are raising concerns about the potential economic impact on oil and fuel prices. Iran's Islamic Revolutionary Guard Corps "has imposed a de facto 'toll booth' regime in the Strait of Hormuz, requiring vessels to submit full documentation, obtain clearance codes and accept IRGC-escorted passage through a single controlled corridor," analysts from Lloyd's List Intelligence said in a recent report. At least two vessels have paid fees in Chinese yuan, according to the provider of maritime research. For now, Iran has not officially implemented a toll for the strait, which would be unprecedented. But Tehran indicated this week that, under a long-term peace deal to reopen the strait, it would charge vessels a fee to guarantee safe passage, Reuters reported. In a Truth Social post on Thursday, President Trump warned Iran not to impose a toll on the vital conduit, which links the Persian Gulf to multiple trade routes. "There are reports that Iran is charging fees to tankers going through the Hormuz Strait — They better not be and, if…

Five pipelines that can bypass the Strait of Hormuz. But not replace it. A handful of pipelines can bypass the Strait of Hormuz, but their combined capacity falls far short of replacing the massive volumes of oil normally shipped through the critical Gulf chokepoint. Summary: The Strait of Hormuz carries roughly 20% of global oil consumption. A limited number of pipelines allow exporters to bypass the chokepoint. Saudi Arabia’s East–West pipeline (5–7 mb/d) is the largest alternative route. The UAE’s Habshan–Fujairah pipeline (≈1.5–1.8 mb/d) also avoids Hormuz. Iraq’s Kirkuk–Ceyhan pipeline exports crude to the Mediterranean. Combined bypass capacity is far below normal Hormuz flows. As tensions rise around the Strait of Hormuz, attention in global energy markets often turns to the limited infrastructure that allows oil exporters to bypass the critical chokepoint. The narrow waterway between Iran and Oman handles roughly one-fifth of the world’s oil consumption, making it the most important transit corridor for crude shipments. In periods of geopolitical stress, analysts frequently highlight a small network of pipelines that can move oil around the strait and deliver it to export …

Strait of Hormuz crisis explained: What it means for global shipping - CNBC Theescalating war in the Middle Easthas ratcheted up fears of prolonged disruption to global trade via key maritime corridors like theStrait of Hormuzand the Bab el-Mandeb Strait. Container shipping giants have suspended operations through the strategically vital Strait of Hormuz and rerouted vessels around the southern tip of Africa, followingU.S. and Israel strikes on Iranover the weekend. Danish shipping company Maersksaidin a statement that it would suspend all vessel crossings in the Strait of Hormuz until further notice, warning that services calling ports in the Persian Gulf may experience delays. Located in the gulf between Oman and Iran, the Strait of Hormuz is recognized as one of the world's most important oil choke points. In 2023, oil flows through the waterwayaveraged20.9 million barrels per day, according to the U.S. Energy Information Administration, accounting for about 20% of global petroleum liquids consumption. Maersk, widely regarded as a barometer of global trade, said the situation in the Middle East had also prompted it to pause future trans-Suez sailings through the Bab el-Mand…

Iran Suspends U.S. Talks and Closes Strait of Hormuz as Oil Prices ... Iran has announced the suspension of all diplomatic negotiations with the United States and declared a complete blockade of the Strait of Hormuz, according to Iranian state media, triggering an immediate spike in global oil prices above $95 a barrel — a rise of approximately 5%. The announcement, made on or around Monday, June 1, 2026, comes as Israeli military operations against Iran-backed Hezbollah forces in Lebanon continue to escalate, dramatically raising the stakes for regional and global stability. The Strait of Hormuz is a narrow but enormously consequential body of water — roughly 21 miles wide at its narrowest navigable point — separating the Iranian coastline from the Arabian Peninsula and the Sultanate of Oman. According to the U.S. Energy Information Administration, approximately 20 to 21 percent of global petroleum liquids and nearly 20 percent of worldwide liquefied natural gas (LNG) passes through the strait annually, making it the single most critical maritime chokepoint for global energy supply. Major oil-exporting nations including Saudi Arabia, the United Arab Emirates, Kuwait, Iraq, and B…

NATIONAL NEWS Oil and gas supplies could take months to return to normal after Iran deal, energy experts say Jun 14, 2026, 4:52 PM | Updated: 5:08 pm BY ASSOCIATED PRESS NEW YORK (AP) — High oil and gasoline prices and energy supply problems won’t be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world’s demand, according to energy experts. The slow pace of the process of shipping and refining crude oil, and doubts about the security of traveling through the strait mean the effect won’t be seen immediately, they said. Ships loaded with crude oil have been stranded in the Persian Gulf for more than three months, unable to safely travel through the waterway, through which about a fifth of the world’s oil and gasoline supplies typically traveled before the war began. “It’s going to take time for people to feel comfortable and for insurance to be in place … particularly to get people on the ground to restart some of these assets,” said Daniel Evans, global head of fuels and refining research at S&P Global…

Now 72° Tue 78° Wed 79° byAUSTIN DENEAN | The National News Desk WASHINGTON (TNND) —A long-awaited deal with Iran to get traffic restored through the Strait of Hormuz is bringing rapid relief to energy markets but still leaves a long list of challenges in getting tankers to start moving through the waterway. Energy and shipping analysts are warning it will take weeks for more oil and gas to return to the global marketplace amid a series of questions about the safety of traveling through the strait, whether the peace deal will hold up and a backlog of ships that need to exit the region through the narrow waterway. Prior to the war, 20% of the world’s oil and gas passed through the Strait of Hormuz. But hundreds of ships have been stuck nearby for months amid exchanges of fire between the U.S. and Iran along with the threat of Iranian drones and mines for any tankers that try to make it through the narrow passageway. Oil prices droppedtoward $80 a barrel on Monday for international benchmark Brent crude and the U.S. benchmark West Texas Intermediate. It is a notable improvement from the highs above $100 a barrel reached during the height of the conflict but still higher tha…

Hormuz disruption may have lasting impact on vulnerable economies, UN trade agency says The UN trade and development agency warned on Tuesday that while the reopening of the Strait of Hormuz will bring immediate relief to energy markets, vulnerable economies remain at risk from prolonged increases in food and fuel costs.Food and transport systems are likely to take longer than energy markets to recover, as disrupted supply chains need more time to reset following more than 100 days of severe disruption to shipping through the strategic waterway, a UN Conference on Trade and Development said in a new report.For all the latest headlines, follow our Google News channel online or via the app.The strait, which normally carries about one-fifth of global oil and gas supplies, was effectively paralyzed during the conflict triggered by joint US-Israeli strikes on Iran in late February.Although Brent crude has fallen sharply back to around $73 a barrel, close to pre-conflict levels, following the interim US-Iran agreement, UNCTAD said higher fuel, gas and fertilizer costs could

RFE18 Jun 2026, 21:43 GMT+10 TheIran framework agreementgave an immediate boost to markets, with shares rising and oil prices dipping. But whether this translates into durable economic gains will largely depend on shipping in the Strait of Hormuz. There were signs of traffic beginning to revive on June 18 in the hours immediately after the US and Iranian presidents signed a memorandum of understanding to end the war, according to Windward, a maritime intelligence company. Speaking in an online briefing, Windward chief analyst Michelle Wiese Bockmann said 18 vessels had transited the strait between 6 p.m. on June 17 and 2 p.m. UTC on June 18, in what she described as "a sign of confidence in the agreement." SEE ALSO: Oil Prices Fall, Dollar Steady As US-Iran Deal Eases Supply Concerns Specifically, she said these were a French-flagged liquid natural gas (LNG) tanker, two Hong Kong-flagged tankers, an Italian-flagged vehicles carrier, a Japanese-controlled oil tanker, and some Saudi-flagged tankers. Ten of the vessels were outbound, having been stuck in the Persian Gulf for 109 days owing to the war that began with US and Israeli air strikes on Iran on February 28. Prior to t…

Hormuz Risk Is Back: Why The Market Is Wrong On Energy https://www.europesays.com/iran/198223/ The collapse of the U.S.-Iran ceasefire in Hormuz creates severe friction for oil and LNG routes, exposing corporate…

[3/5] Hormuz is a key global energy trade channel. Since the outbreak of the relevant war three months ago, navigation in the Strait has been greatly restricted. Oil-producing countries in the Middle East have been preparing to build supporting infrastructure to reduce Iran's

With Hormuz reopened, has the oil shortage turned into a glut? As flow resumes through the strait, an oil surplus may yet again destabilise global energy markets.

Strait of Hormuz Crisis: Global Energy Flows at Risk Amid Iran Conflict War in the Gulf imperils the route that carries one-fifth of global oil supplies The war triggered by US-Israeli strikes on Iran has pushed one of the world’s most critical maritime chokepoints — the Strait of Hormuz — to the centre of a rapidly escalating global energy crisis. Tanker traffic through the narrow passageway has plunged as shipping companies suspend operations and insurers withdraw coverage, sending oil prices soaring and forcing Gulf producers to cut exports. Shipping activity through the strait has fallen by as much as 90 per cent, according to shipping analytics firm Kpler, as shipowners grow reluctant to risk vessels in waters increasingly threatened by missiles, drones and naval confrontation. Oil prices surged above $100 per barrel and briefly approached $120, reflecting fears that a prolonged disruption could choke off a major share of the world’s energy supply. The mounting disruption has triggered an international scramble to keep the shipping route open. The United States has said its navy could escort oil tankers through the strait, while France and other allies are discussing a mis…

Iran proposes 60-day toll-free transit through Hormuz Strait as ceasefire ... Iran proposes 60-day toll-free transit through Hormuz Strait as ceasefire talks advance The offer could reshape global oil flows and accelerate crypto adoption in maritime trade, with a bitcoin-settled insurance platform already in the works. Share Add us on Google by Editorial Team Jun. 15, 2026 Iran is offering ships a 60-day window to pass through the Strait of Hormuz without paying transit fees, a concession tied to ceasefire negotiations with the United States that could ripple across energy markets, shipping lanes, and the crypto industry. What Iran has been charging, and what it’s giving up Before this proposal, Iran had been collecting transit tolls through what it calls the Persian Gulf Strait Authority. The fees averaged around $1 per barrel of oil passing through, which translates to roughly $2 million per supertanker. The strait sees somewhere between 9 and 20 million barrels of oil transit daily. The US, for its part, has signaled it would end its naval blockade as part of the broader ceasefire framework. The two sides are also reportedly discussing eased sanctions and a potential resumption…

NATIONAL NEWS Oil and gas supplies could take months to return to normal after Iran deal, energy experts say Jun 14, 2026, 4:52 PM | Updated: 5:08 pm BY ASSOCIATED PRESS NEW YORK (AP) — High oil and gasoline prices and energy supply problems won’t be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world’s demand, according to energy experts. The slow pace of the process of shipping and refining crude oil, and doubts about the security of traveling through the strait mean the effect won’t be seen immediately, they said. Ships loaded with crude oil have been stranded in the Persian Gulf for more than three months, unable to safely travel through the waterway, through which about a fifth of the world’s oil and gasoline supplies typically traveled before the war began. “It’s going to take time for people to feel comfortable and for insurance to be in place … particularly to get people on the ground to restart some of these assets,” said Daniel Evans, global head of fuels and refining research at S&P Global…

Oil and gas supplies could take months to return to normal after ... - KUTV Now 71° Mon 87° Tue 92° byCATHY BUSSEWITZ Associated Press NEW YORK (AP) —High oil and gasoline prices and energy supply problems won't be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world’s demand, according to energy experts. The slow pace of the process of shipping and refining crude oil, and doubts about the security of traveling through the strait mean the effect won't be seen immediately, they said. Ships loaded with crude oil have been stranded in the Persian Gulf for more than three months, unable to safely travel through the waterway, through which about a fifth of the world’s oil and gasoline supplies typically traveled before the war began. “It’s going to take time for people to feel comfortable and for insurance to be in place ... particularly to get people on the ground to restart some of these assets,” said Daniel Evans, global head of fuels and refining research at S&P Global Energy. Still, oil prices slipped early Mond…

Hormuz Crisis: What U.S. businesses must do no - CohnReznick The effective closure of the Strait of Hormuz since late February 2026 — triggered by U.S. and Israeli military operations against Iran — represents the most consequential disruption to the global energy supply since the 1970s oil crisis. Approximately 20 million barrels of oil pass through the strait per day, roughly 20% of global seaborne oil trade, as well as 20% of the world’s liquefied natural gas (LNG) and one-third of global fertilizer shipments. While the United States produces more domestic oil than any nation, American businesses are not insulated. Oil trades in a global market: when supply is removed anywhere, prices rise everywhere. Brent crude surpassed $126 per barrel at its peak in March 2026, gasoline prices have risen more than 50 cents per gallon, and freight, fertilizer, and industrial input markets are repricing in real time. This is not a scenario to model. It is the current operating environment. Businesses that move earliest to quantify, document, and mitigate their exposure will be best positioned to navigate what is likely a multi-quarter dislocation.CohnReznick’s Risk Advisory teamis prepared …

IEA sees gradual Hormuz recovery tipping into significant 2027 surplus The world oil market will recover gradually from the closure of the Strait of Hormuz before tipping into a significant surplus in 2027, the International Energy Agency said in its monthly oil market report on Wednesday.For all the latest headlines follow our Google News channel online or via the app.The US and Iran reached an agreement to end the three-month-old war, which includes Iran reopening the Strait of Hormuz and the US lifting its naval blockade, potentially bringing an end to the largest oil supply disruption in history which shut in over 14 million barrels per day of Middle East oil output, according to the IEA.“If the deal holds, exports and production from the Gulf should see a gradual recovery – not least because Iranian oil exports can fully resume once the US blockade is lifted,” the agency, which advises industrialized countries, said.The oil market will then enter a significant supply overhang next year, the IEA said in its first look at 2027, with global oil supply

New EIA Report Shows Extent of Hormuz Oil Disruptions EIA published the first edition of its new “Global Energy Security Data” report, launched in part to assess how the war in Iran has disrupted global energy supplies and reshaped oil market flows. EIA plans to publish it quarterly to reflect trends and changes in energy flows. During the first quarter of 2026, the Strait of Hormuz lost about 6 million barrels per day of oil and petroleum products that had transited through it in the previous quarter, down almost 30%. Around three-fourths of that amount was in oil shipments, with the rest in petroleum liquids. The Energy Information Administration (EIA) has published a new report, theGlobal Energy Security Data report, that tracks global strategic petroleum reserves and energy flows through major shipping chokepoints, including the Strait of Hormuz. During the first quarter of 2026, crude oil and petroleum liquids that moved through the Strait of Hormuz fell almost 30% year over year to 14.6 million barrels per day in the first quarter due to disruptions from the conflict with Iran. During that quarter, flows of crude oil and petroleum liquids through the Strait of Hormuz fel…

Could a Hormuz toll solve the oil crisis and who pays? With a ceasefire on 8 April, the conflict between the United States, Israel and Iran has reached – for now – a sort of stalemate. The conflict has had a huge impact on global energy supplies, while incurring staggering military costs 1 and laying bare the uncomfortable truth about the power of asymmetric warfare 2 . Iran’s ability to close off the Strait of Hormuz energy chokepoint has become a defining issue. One major issue now is to find a way to keep the strait open and energy supplies flowing. This analysis explores an option for this, which now seems to be part of Iran’s 10-point ceasefire plan, put forward on 8 April 3 : continuous control of the strait by Iran and potentially a toll paid to Iran in return for allowing oil tankers to transit the strait. We first discuss the economics of a toll and show that the Gulf states would pay around 85 percent of the toll cost, while the rest of the world bears only a small fraction of the toll. Regaining access to oil from the Gulf would, overall, far outweigh the cost of the toll. We then discuss two major counter-arguments and trade-offs in that scenario that policymakers must…

Strait of Hormuz Reopening Explained: Why Oil Crisis May Last Until ... A proposed agreement between the United States and Iran to reopen the Strait of Hormuz to commercial shipping could help lower oil prices and reduce pressure on transport, manufacturing and fuel costs around the world, analysts say. The Strait of Hormuz, one of the world's most important energy chokepoints, normally carries about 20% of global petroleum supplies. Shipping through the waterway has been heavily disrupted during three months of conflict in the region. A US official said on Sunday that there was now an agreement in principle under which Iran would reopen the strait, although Donald Trump indicated a final signed agreement could still take time. Experts cautioned that even if a deal is reached, the economic benefits would not be immediate and recovery in energy markets could take months or even years. Breaking It Down What impact does the strait's closure have on global oil prices? How many ships are currently stuck in the Persian Gulf? What are the conditions for ships to pass through Hormuz? Created with AI. Errors are possible When Will the Shipping Backlog Clear? Industry analysts said the firs…

The Strait of Hormuz Closure and the Reshaping of Energy Geopolitics An oil tanker and a cargo vessel are pictured near the seaport city of Bushehr in Bushehr Province, southern Iran, on April 29, 2024. (Photo by Morteza Nikoubazl/NurPhoto via AP) The closure of the Strait of Hormuz restructured global energy flows, revealing how quickly supply, pricing, and influence can shift amid maritime disruption. GCC Energy & Environment Commentary Posted On: May 28, 2026 7 minutes read GCC Energy & Environment Commentary Aidan Serna Aidan Serna Emma Frazier Anna Putnam From December 2025 to May 2026, global energy markets moved from cautious optimism to outright crisis in a matter of months. What began as a period defined by steady demand, softening prices, and expectations of manageable supply growth was upended by geopolitical shocks that exposed just how fragile the world’s energy system remains. The closure of the Strait of Hormuz did more than disrupt shipping lanes; it redrew trade flows, revived the strategic importance of non-Gulf oil producers, and forced governments from Europe to Asia into an urgent search for alternative supply. This period has become a stark reminder that ener…

The Strait of Hormuz is finally reopening, but energy flows ... - Fortune The memorandum of understanding that the U.S. and Iran have endorsed will fully reopen the Strait of Hormuz on Friday, but unwinding the biggest oil disruption ever will take longer than creating it. Recommended Video In a span of just three months, global supplies lost about 2 billion barrels of oil, forcing top energy-consuming countries to tap reserves at record rates and impose rationing. While energy markets have been surprisingly resilient, prices still soared, and chaos ensued. Oil has been diverted, drilling shut down, other suppliers stepped up exports, and thousands of tankers were rerouted to different ports. With the Strait of Hormuz due to reopen, Wall Street is watching to see how quickly traffic will rebound, especially given the risks of underwater mines and renewed fighting. “What’s more, even if ships now have safe passage, tankers are in the wrong place and questions over the cost and availability of insurance for ships traversing the strait will remain,” said Jason Tuvey, deputy chief emerging markets economist at Capital Economics, in a note on Monday. “Our working assumption is that ~80…

Hormuz Reopening Brings Relief for Global Economy - Mint Global Hormuz Reopening Brings Relief for Global Economy Chelsey Dulaney , The Wall Street Journal 3 min read 19 Jun 2026, 01:11 PM IST The Hormuz crisis highlights growing frictions in the global economy. Summary The specter of a prolonged crunch in energy supplies has faded, but the disruption could take months to unwind. Gift this article Check your wealth This is a Mint Premium article gifted to you. Subscribe to enjoy similar stories. Subscribe now With the planned reopening of the Strait of Hormuz, the specter of a prolonged crunch in energy supplies has faded, and with it the risk of a severe downturn in the global economy. But the global economy isn’t home free just yet. Though growth proved resilient during the monthslong closure of the strait, the Hormuz squeeze disrupted energy supplies in ways that could take months to unwind. Mines will need to be cleared before ships can navigate freely through the channel. Oil fields and refineries that throttled production or sustained damage during the war will need to be brought back online. Uncertainty will weigh on shipping while Washington and Tehran thrash out details o…

Iran war to speed Asia's clean energy shift - Asia Times Conflict may entrench fossil fuel infrastructure today while simultaneously locking in Asia’s structural advantage in renewables tomorrow. Energy volatility in the Middle East is serving as a new accelerant for energy security and thus strategic autonomy. The confrontation involving Iran, the United States and Israel has reintroduced acute geopolitical risk into energy pricing. Repeated threats to shipping through the Strait of Hormuz — the corridor through which roughly one-fifth of globally traded crude moves — have forced markets to price in disruption scenarios that many had treated as remote. For Asia, the world’s largest net energy-importing region, sustained instability in that channel would likely transmit directly into macroeconomic stress. Consider how this point risk interacts with different economic models across Asia. In Japan, where domestic hydrocarbon production is negligible and energy security has shaped policy since Fukushima, a renewed Middle East shock would probably widen the trade deficit and revive debate over the balance between LNG dependence and nuclear restarts. Japanese utilities have already loc…

What to know about the Strait of Hormuz and why Iran can close it off ... Iran has effectively closed the Strait of Hormuz , a critical maritime chokepoint, in a direct response to recent U.S.-Israeli military actions. This move, following through on an earlier threat, immediately impacts approximately a fifth of the world's oil and liquefied natural gas supplies, sparking concerns over a potential global energy crisis. The United States is reportedly considering escorting commercial vessels through the strait, though the feasibility of securing such a route remains highly questionable. This challenge was underscored by the difficulties faced in protecting Red Sea shipping from Yemen's Houthi rebels last year. United Nations data indicates that traffic through the Strait of Hormuz, which typically handles a fifth of global oil and LNG, has plummeted by 97 per cent since the U.S.-Israeli conflict with Iran commenced on 28 February. Why has Iran cut off the strait now? When a commander in Iran's Islamic Revolutionary Guard Corps warned in 2011 that cutting off the strait would be "easier than drinking a glass of water", the threat to the strait had already been made many times befor…

20% of the world's oil flows through a strait that was just blockaded. The ceasefire is signed, but Israel's Lebanon campaign keeps the whole region on a hair trigger. Track Hormuz traffic since the ceasefi… https://connectrealdots.com/hormuz-iran-deal-shipping?utm_source=bluesky&utm_medium=social

Energy firms brace for 'new era' despite Hormuz deal Energy firms brace for 'new era' despite Hormuz deal by Nathalie ALONSO, Corentin DAUTREPPE Jun 16, 2026 Add AL-MONITOR on Google Hundreds of tankers and cargo ships have been stranded in the Gulf, choking off global oil and gas supplies — AMIRHOSSEIN KHORGOOEI Oil and gas majors have high hopes for a quick reopening of the Strait of Hormuz, but they have few illusions about a return to normal for the Gulf energy industry after more than three months of blockage. Even if the deal between Iran and the United States to end the Mideast war holds, analysts say the old market certainties are gone for good -- and the new risks will probably require costly adaptions. - Business as usual? - "A credible reopening of the Strait of Hormuz would be one of the most important developments for the global economy at this juncture," said Claudio Galimberti, chief economist at Rystad Energy. The shock of a near-doubling of oil prices since Iran effectively closed off the crucial waterway has fuelled inflation that could persist for months, threatening growth around the globe. Its closure exposed the vulnerability of Gulf supply chains -- and now …

Experts weigh potential scenarios for oil if Strait of Hormuz closes - CNBC In this article Oil markets are bracing for a possible supply shock after U.S. strikes on Iran over the weekend reignited fears that flows through the Strait of Hormuz could be disrupted. Follow CNBC's live coverage of the U.S.-Israel strikes in Iran While analysts expect an immediate "knee-jerk" reaction to oil prices when trading resumes in New York on Sunday evening, the bigger question is whether tensions could escalate into a sustained interruption of Gulf exports. "At this point, it seems we are looking at a full-scale military conflict between the U.S. and Iran, which would be unprecedented and the trajectory impossible to assess," said Vandana Hari, CEO of energy research firm Vanda Insights. "If it carries on for days with Iran and its proxies retaliating to the fullest extent, we are looking at the worst-case scenarios for oil, including a major disruption of oil flows through the Middle East," Hari told CNBC. This is unless the U.S. is able to pre-emptively disarm the Iranian navy and military, as well as ensure tanker traffic through the Strait of Hormuz continues to flow normally. With t…

Strait of Hormuz Crisis 2026: Full Analysis | TheBoard.world The Strait of Hormuz — a 21-mile-wide chokepoint between Iran and Oman — has functioned for decades as the jugular vein of global energy markets. Approximately 20% of the world's traded oil and 20% of global LNG transits this narrow passage daily, making it the single most consequential maritime corridor on earth. In late February and early March 2026, it became the epicenter of the most dangerous geopolitical crisis since the Cold War. What began as a targeted U.S.-Israeli strike campaign against Iranian nuclear and military infrastructure rapidly escalated into a multi-theater conflict, with Iran closing the strait, mining shipping lanes, attacking Gulf energy infrastructure across nine nations, and drawing in naval forces from Europe, the United States, and China. The crisis has disrupted an estimated 15–20% of global oil supply — a magnitude exceeding any single disruption in post-war history — and triggered emergency responses from the IEA, the White House, and commodity markets from Tokyo to Rotterdam. This analysis examines the full strategic picture: the military operations, the energy market rupture, the diplo…

Navigating the Hormuz dilemma <p>THE US war on Iran has exposed the fundamental strategic vulnerability of the Arab Gulf states. The double blockade of the Strait of Hormuz by Iran and the US has significantly affected the oil and gas exports of the GCC states.</p> <p>The impact has varied from state to state. Qatar, Bahrain and Kuwait have been the most affected GCC countries due to their overwhelming dependence on Hormuz for exports. Saudi Arabia and the UAE have managed to partially mitigate the disruption by diverting some oil flows through Yanbu and Fujairah, respectively, yet these alternatives possess limited capacities and are not a complete substitute for the Hormuz route.</p> <figure class='media w-full sm:w-1/2 media--right media--embed media--uneven' data-original-src='https://www.dawn.com/news/1984594'> <div class='media__item media__item--newskitlink '> <iframe class="nk-iframe" width="100%" frameborder="0" scrolling="no" style="height:250px;position:relative" src="https://www.dawn.com/news/card/1984594" sandbox="allow-same-origin allow-scripts allow-popups allow-modals allow-forms"></iframe></div> </f…

The Strait of Hormuz: Alternative routes for oil exporters - CNBC Middle Eastern oil and gas producers are still scrambling to find and expand alternative routes for their exports, almost two months after the critical Strait of Hormuz was effectively shut to commercial traffic. There is still little clarity on when or how the U.S.-Iran conflict can be brought to an end, and both sides are using the Strait of Hormuz — a vital waterway through which around20% of the world's oilwas shipped before the war — as a bargaining chip instop-start peace talks. The channel's double-blockade has supercharged global energy prices and highlighted the global energy market's vulnerability when key waterways and "chokepoints" — like the Strait of Hormuz, Panama Canal or Suez Canal — are blocked, whetherby accidentor by design. The IEA's Executive Director Fatih Birol told CNBC Thursday he felt like a "broken record" telling countries to diversify energy supply routes years before the current crisis. "The $110 trillion global economy can be taken hostage by a couple of hundred men with guns across a 50-kilometer stretch of strait — it doesn't make sense at all. We should make alternative routes…

US-Iran Deal: Strait of Hormuz Still Faces Global Risks >> >> >> POLITICS The US-Iran deal has won support from CPTPP ministers, who welcomed the reopening of the Strait of Hormuz. But if tensions are easing, why are world leaders still racing to protect trade routes and energy supplies? The US-Iran deal may point to peace, but the Strait of Hormuz is still a danger zone.World leaders are not easing up; they are staying alert, guarding trade, and preparing for the next shock. On Friday, ministers from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) welcomed the US-Iran deal, praising efforts to reopen the Strait of Hormuz and restore safe passage through one of the world's most important shipping routes. The agreement, reached after months of conflict and escalating tensions, is expected to reduce risks to global energy supplies and commercial shipping. But the response from trade ministers raises a bigger question: If the US-Iran deal has truly stabilized the region, why is the world still preparing for disruption? The Strait of Hormuz remains one of the most strategically important waterways on the planet,carrying roughly one-fifth of g…

The American Flag flies next to a One9 Fuel Stop sign displaying gas prices for diesel and unleaded gas in Wilmington, Ohio, Wednesday, June 10, 2026. (AP Photo/Carolyn Kaster) (AP Photo/Carolyn Kaster) Customer checks gas price before she fills up her vehicle's tank at a gas station in Lincolnshire, Ill., Monday, June 8, 2026. (AP Photo/Nam Y. Huh) (AP Photo/Nam Y. Huh) US Gas Prices 1 of 2 The American Flag flies next to a One9 Fuel Stop sign displaying gas prices for diesel and unleaded gas in Wilmington, Ohio, Wednesday, June 10, 2026. (AP Photo/Carolyn Kaster) (AP Photo/Carolyn Kaster) NEW YORK (AP) — High oil and gasoline prices and energy supply problems won't be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world’s demand, according to energy experts. The slow pace of the process of shipping and refining crude oil, and doubts about the security of traveling through the strait mean the effect won't be seen immediately, they said. Ships loaded with crude oil have been stranded in the Persian Gulf for more than three …

The Strait Of Consequences: World Braces For Potential Energy Shock Business Energy The Strait Of Consequences: World Braces For Potential Energy Shock By Robert Rapier , Senior Contributor. Forbes contributors publish independent expert analyses and insights. Robert Rapier is a chemical engineer covering the energy sector. Follow Author Jun 22, 2025, 02:24pm EDT ANKARA, TURKIYE - JUNE 17: An infographic titled "Strait of Hormuz" created in Ankara, Turkiye on June 17, 2025. Connects oil and LNG production in the Middle East to global markets via the Arabian Sea and the Indian Ocean. (Photo by Murat Usubali/Anadolu via Getty Images) Anadolu via Getty Images There are several important energy chokepoints around the world, but none is more significant and vulnerable than the Strait of Hormuz. Now, following the U.S. bombing of Iranian nuclear facilities on Saturday, the Iranian Parliament has reportedly voted to close this important energy transit chokepoint. Such a move could severely disrupt the world’s energy markets. While the final decision still rests with Iran’s Supreme National Security Council--and Iran has failed to follow through on previous threats to close the Strait--th…

US revokes Iran oil waivers after attacks in Strait of Hormuz https://en.wikipedia.org/wiki/Strait_of_Hormuz US revokes Iran oil waivers after attacks in Strait of Hormuz WTI crude oil prices in July 2026 Share Add us on Google by Estefano Gomez Jul. 7, 2026 The United States has revoked oil sanctions waivers for Iran following recent attacks in the Strait of Hormuz. This decision comes after Iranian forces targeted two commercial vessels, including a Qatari LNG tanker, on July 7. The revocation ends a temporary 60-day sanctions relief that had allowed some dollar-based transactions of Iranian oil. Market observers suggest this move is part of a broader strategy to reimpose “maximum pressure” on Iran, aimed at curbing its nuclear program and regional activities. The revocation is expected to impact global oil prices, given the strategic importance of the Strait of Hormuz for oil transportation. Advertisement Key Takeaways The revocation of oil waivers appears to indicate a significant escalation in U.S.-Iran tensions. Market pricing suggests participants are preparing for potential disruptions in oil supply, as indicated by increased probability of price hikes. Observers suggest t…

Iran tensions add fresh uncertainty to the global economy : NPR https://www.europesays.com/iran/196974/ Tanker traffic in the Strait of Hormuz remains vulnerable after the U.S. and Iran ended their ceasefire. Oil…

Minefields, stalled talks keep Strait of Hormuz in strategic limbo The future of energy exports through the Strait of Hormuz hangs in the balance after negotiations between Iran and the United States in Doha this week ended without an agreement on releasing frozen funds to the Islamic Republic. With Tehran also failing to begin demining the strait, and still threatening to attack ships attempting to leave the Persian Gulf without its permission, neither side has yet met the two key obligations under their June 17 memorandum of understanding (MOU) to freeze the...

US-Iran Peace Deal: What It Means for Trade Data, Oil, & Investment ... The latest US-Iran peace agreement in 2026 has emerged as one of the most important geopolitical developments affecting global trade, energy markets, and investment sentiment. After months of military tensions and disruptions across the Middle East, Washington and Tehran have agreed to a framework aimed at restoring stability, reopening critical shipping routes, and easing economic pressures on both sides. Reports indicate that the agreement includes a ceasefire, the reopening of the Strait of Hormuz, and discussions surrounding selective sanctions relief, although several issues remain under negotiation. As far as the bilateral trade data is concerned, the total US-Iran trade reached around$60 million in 2025, according to theUS export data&Iran import data. The US-Iran trade value was$16.25 million in the first quarter of 2026. The development could have far-reaching implications for global oil prices, international trade flows, shipping costs, inflation, and foreign investment. Since nearly 20% of the world's oil passes through the Strait of Hormuz, even modest improvements in regional stability have immed…

Why the oil may start flowing through the Strait of Hormuz faster ... - CNBC SUBSCRIBE TO CNBC'S "POWER INSIDER NEWSLETTER What I'm hearing from energy insiders While the SpaceX IPO has rightly captured investors' attention, it's been another story that has actually moved the market: the war in Iran. We have a deal. Or at least, a deal to make a deal. That deal to make a deal is dealing oil lower. Unless there is no deal and "bombs start dropping" again. I'll get to that. Wordplay aside, the last few days have been remarkable for oil, energy, and markets.  The U.S. and Iran reportedly have a framework for a longer-term peace deal. While much still needs to be worked out, the markets love the news, and oil prices have fallen dramatically. The Dow Jones Industrial Average surgedabove 52,000for the first time ever Tuesday on the news before selling off on Wednesday. FUN FACT →ExxonMobil was ingloriously removed from the Dow in 2020. If the oil giant were still in the index, the Dow would be above 54,000 right now. Crude's move lower has been the quickest since Covid.  From its April 7th peak of nearly $113, oil has fallen  30%. The bottom may not be in yet. Here's why. The wor…

Iran's Real 'Nuclear Option' Isn't A Bomb—It's The Strait Of Hormuz Business Energy Iran’s Real ‘Nuclear Option’ Isn’t A Bomb—It’s The Strait Of Hormuz By Robert Rapier , Senior Contributor. Forbes contributors publish independent expert analyses and insights. Robert Rapier is a chemical engineer covering the energy sector. Follow Author Mar 09, 2026, 06:00am EDT Mar 09, 2026, 07:47am EDT Flames rise from an oil storage facility south of the capital Tehran as strikes hit the city during the U.S.–Israel military campaign, Iran, Saturday, March 7, 2026. (AP Photo/Vahid Salemi) Copyright 2026 The Associated Press. All rights reserved. For decades, global attention has focused on the potential “red line” of Iran’s nuclear program. Intelligence agencies track centrifuge installations, debate enrichment levels, and speculate about the possibility of a nuclear breakout. But while the world has been watching Iran’s nuclear program, it has a far more immediate strategic lever. Iran’s most powerful weapon is not a bomb. It is the geography it controls. The Strait of Hormuz is a narrow shipping corridor between Iran and Oman. If that passage is effectively closed or significantly restricted …

Hormuz relief may not ease the economic toll that's already ... - CNBC Early signs that the Strait of Hormuz is reopening have eased the most acute threat to global energy supplies, but economic damages from the nearly four months of war will take months to unwind, analysts warned. The U.S. and Iran signed a memorandum Thursday to open the Strait of Hormuz, ending a war that has upended global energy supply chains, pushed inflation higher and dented the outlook for growth. But even if shipping through the strait normalizes, higher inflation has already been largely "baked in" across many economies, Simon MacAdam, deputy chief global economist at Capital Economics, said in a note this week. "It can take many months for higher energy and fertiliser prices to be passed along food supply chains to end-consumers," MacAdam said. Prices of natural gas piped to households typically lag the upstream market by around three months, he said. Oil prices retreated to around $80 a barrel on Friday, down from a peak of $118 in March when the war was at its height. Goldman Sachscut its oil price forecastTuesday, projecting Brent to average $80 in late 2026 and $75 in 2027, citing a faster-than…

OPEC is in a struggle for its survival. It could mean $40 oil - CNN Vessels in the Strait of Hormuz near the beach of Bandar Abbas, Iran, June 30, 2026. Amirhosein Khorgooi/ISNA/WANA/Reuters Oil & gas The Middle East Investing Economy See all topics Facebook Tweet Email Link Threads Link Copied! Follow The Iran war exposed a long-simmering feud within the world’s most powerful oil cartel, boiling over this spring when it contended with the biggest oil supply shock in history. Now OPEC, the largest consortium of oil-producing nations, faces a fight for its existence. The Strait of Hormuz has started to reopen, and some OPEC nations are clamoring to ramp up oil production to make up for lost time and sales. That’s reigniting age-old feuds about production quotas that already led the United Arab Emirates, one of OPEC’s most significant members, to leave the group in April . OPEC is confronted with a critical choice: keep the group together and send oil prices into the ground, or drive profit higher and risk dismantling the nearly 70-year-old cartel. What’s the gripe about? While the rest of the world was scrounging around for any oil it could get this spring, the Middle East was awas…

US-Iran peace deal: What it means for the Strait of Hormuz and oil ... US-Iran peace deal: What it means for the Strait of Hormuz and oil supply Ship traffic through the strait has slowed dramatically since the war began Summarise Share Add BT as a preferred source Add BT as a preferred source Published Mon, Jun 15, 2026 · 01:56 PM — Updated Mon, Jun 15, 2026 · 02:38 PM The strait is an essential route for the energy market, handling around a fifth of the world’s oil and liquefied natural gas supply. PHOTO: REUTERS [LONDON/SINGAPORE] No region of the world produces more oil and gas than the countries straddling the Persian Gulf. Most of this energy can only be exported aboard tankers that cross the Strait of Hormuz, a waterway that’s effectively been closed for more than three months since the US and Israel started a war against Iran in late February. The disruption has rippled through the global economy. Supplies of oil, gas and other commodities have been squeezed, pushing prices far higher than before the war. There’s hope this might soon change. On Jun 15, the US and Iran announced an interim deal to halt the war and reopen the strait , with a formal agreement to be signed on …

Why the Iran Conflict Is Affecting Diesel and Jet Fuel Prices More Than ... In Brief The Strait closure took 14 million b/d off the market: That’s roughly 14% of projected 2026 global supply—sending diesel up 58% and jet fuel up 106% year-over-year. U.S. oil production doesn’t fully protect Americans: Middle Eastern crude yields more diesel and jet fuel per barrel. The region also supplied 20% of seaborne jet fuel before the conflict. Relief will be slow even after fighting stops: The EIA expects that restarting production and refining will take months. Elevated diesel and jet fuel prices could persist well into the recovery. Americans continue to face rising gasoline prices at the pump, with the Iran conflict forcing the ongoing curtailment of crude oil production and exports from the Middle East. The price impacts on diesel and jet fuel have been even more dramatic. U.S. diesel and jet fuel prices have risen by 58% and 106% year-over-year, respectively, compared with 42% for gasoline, as shown in Figure 1 below. High diesel and jet fuel prices are driving up the shipping costs for consumer goods as well as passenger air travel. Moreover, due to differences in underlying market d…

Why Restoring Normal Traffic Through Hormuz Won't Be Easy Print 🖨 Alaric Nightingale and Paul Burkhardt The US and Iran have committed to reopening the Strait of Hormuz, the world’s most important artery for shipping oil and natural gas, which has been largely blocked since the two countries went to war in February. However, returning traffic in the strait to prewar levels — if that day ever comes — presents significant challenges. The prediction market Kalshi assigns a 51% probability that traffic will return to normal before Aug. 1 and a 68% probability before Sept. 1. Here’s a look at the main impediments: Get the Latest US Focused Energy News Delivered to You! It's FREE: Quick Sign-Up Here Mine threats Iran is thought to have mined what was the normal shipping channel through Hormuz, which connects the Persian Gulf to the Indian Ocean and is situated between Iran to its north and the United Arab Emirates and Oman to its south. The threat of mines has forced ships to sail instead near Iran’s coastline or closer to Oman’s. Use of the southern route, overseen by US forces, has already allowed oil flows to creep higher. But the question of how much traffic the alternative routes c…

From Hormuz to Malacca: The toll risk hanging over oil markets - CNBC Iran'spush for controlover the Strait of Hormuz has prompted some energy market participants to worry about the introduction of tolls on the Strait of Malacca, one of the world's most important energy and trade choke points. It followsreportsthat Iran and Oman, which sit on opposite sides of the Strait of Hormuz, have presented the U.S. with a proposal to jointly administer the narrow maritime corridor, including the collection of administrative fees. The U.S. and Iranagreedin a memorandum of understanding last month that ships could safely and freely navigate the waterway for 60 days. The Strait of Hormuz typicallyhandles around 20%of the world's oil traffic. Thereafter, the future administration and maritime services of the strait will be defined by Iran and Oman after talks with other Persian Gulf states, "in line with the applicable international law and the sovereign rights of coastal states of the Strait of Hormuz." The notion of some sort of service plan to transit the Strait of Hormuz has sparked alarm across the globe, not least by investors who fear it could be replicated in other strategically vit…

[3/5] Hormuz is a key global energy trade channel. Since the outbreak of the relevant war three months ago, navigation in the Strait has been greatly restricted. Oil-producing countries in the Middle East have been preparing to build supporting infrastructure to reduce Iran's

How the US and its allies can prevent an energy supply crisis in the ... Tankers are seen off the coast of the Fujairah, as Iran vows to close the Strait of Hormuz, on March 3, 2026. (REUTERS/Amr Alfiky) WASHINGTON—After weeks of uncertainty, a seemingly perfect storm has formed in the Persian Gulf—one that energy security analysts and risk assessors have long feared. Amid ongoing joint US-Israeli strikes targeting Iranian senior leadership and critical infrastructure, Iranian regime threats are resulting in an effective closure of the Strait of Hormuz. With vessel traffic down 70 percent in the past week, voluntary delays for seaborne vessels, and insurers rapidly recalculating their premiums, matters are tense in the passageway through which more than 30 percent of the world’s seaborne crude oil is shipped. Warnings of unsafe conditions in the strait, in combination with missile barrages throughout the Gulf region, suggest that the situation could intensify and persist for days or even weeks—even if Iranian naval forces cannot shut down the waterway by conventional force alone. Since the strikes began, prices for crude oil have spiked by more than 8 percent, surpassing seventy-f…

Iran's Ghost Fleet Crisis: $10 Billion in Stranded Oil and the Mounting ... Iran’s Ghost Fleet Crisis: $10 Billion in Stranded Oil and the Mounting Cost of Sanctions February 18, 2026 Share X Facebook Telegram WhatsApp Copy Link Roughly 170 million barrels of Iranian oil now sit in maritime limbo, circling the globe in what appears less a sanctions workaround than a strategic reserve. It’s enough crude to meet Japan’s energy needs for 50 days — or to fund Iran’s entire annual cash subsidy programme twice over. IOD’s analysis of shipping and energy data suggests that amid fears of conflict with the United States or Israel, Tehran is converting the sea into storage — a hedge that comes at enormous economic cost. This expensive accumulation comes amid escalating geopolitical tensions. U.S. sanctions have tightened after Iran’s harsh crackdown on protests, and the prospect of military retaliation by Israel or the United States is now being openly discussed in capitals across the region. In such a climate, holding oil offshore may serve as both a revenue strategy and a wartime contingency. Yet the consequences are enormous: discounted sales, disappearing funds, and billions in foreign …

Oil and gas supplies could take months to return to normal after Iran ... High oil and gasoline prices and energy supply problems won't be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world's demand, according to energy experts. The slow pace of the process of shipping and refining crude oil, and doubts about the security of traveling through the strait mean the effect won't be seen immediately, they said. Ships loaded with crude oil have been stranded in the Persian Gulf for more than three months, unable to safely travel through the waterway, through which about a fifth of the world's oil and gasoline supplies typically traveled before the war began. "It's going to take time for people to feel comfortable and for insurance to be in place ... particularly to get people on the ground to restart some of these assets," said Daniel Evans, global head of fuels and refining research at S&P Global Energy. Still, oil prices slipped early Monday after the deal was announced. Brent crude, the international standard, was down…

Strait of Hormuz closure risks greatest global energy supply shock in ... Contact our media team Get in touch Mark Thomton mark.thomton@woodmac.com +1 630 881 6885 Hla Myat Mon hla.myatmon@woodmac.com +65 8533 8860 Chris Boba chris.boba@woodmac.com +44 7408 841129 Angélica Juárez angelica.juarez@woodmac.com +5256 4171 1980 News Release Strait of Hormuz closure risks greatest global energy supply shock in decades, Wood Mackenzie warns Oil prices could reach US$200/bbl in worst-case scenario as more than 11 million b/d of Gulf crude and condensate supply remains curtailed 20 May 2026 1 minute read LinkedIn LinkedIn Share on LinkedIn Bluesky Share on Bluesky X Share on X Email Share by email A prolonged closure of the Strait of Hormuz poses the single greatest threat to global energy markets in decades, according to a new Horizons report from Wood Mackenzie, Strait Talking: Iran War Scenarios and the Future of Energy . More than 11 million barrels per day (b/d) of Gulf crude and condensate production is currently curtailed. Meanwhile, over 80 million tonnes per annum (Mtpa) of LNG supply, equivalent to around 20% of global supply, remains inaccessible to global markets. In its new re…

The Iran war could have a surprising silver lining for the global economy A motorist rides a scooter along a street near a billboard on the facade of a building depicting the Strait of Hormuz at Vanak Square in Tehran. AFP/Getty Images Oil & gas The Middle East Investing Economy See all topics Facebook Tweet Email Link Threads Link Copied! Follow The longer the Iran war lasts and the more damaging its economic fallout, the better off the global economy may be in the long run. It’s a hard-to-square possibility, especially with the war’s large number of human casualties. War is ugly, cruel and deeply painful, and the economic harms of this one have hurt billions of people around the globe – many of them in devastating ways. Nevertheless, the world could undergo some fundamental and necessary changes as a result of the war’s destruction. It is almost certain to harden and diversify its energy supply chain as a result, preventing a single 23-mile-wide waterway from becoming a chokepoint for the global economy and allowing Iran to shut off the global oil market. And the harder the economy falls, the greater the incentive to make those necessary changes. OPEC may also be smaller or dism…

The Strait of Hormuz May Reopen But the War Cycle Is Not Finished The financial press is celebrating reports that traders are betting shipping traffic through the Strait of Hormuz could begin returning tonormal by August. Oil prices have fallen sharply on hopes of a U.S.-Iran agreement, and prediction markets are assigning better-than-even odds that vessel traffic will recover during the second half of this year. Yet when you look beneath the headlines, even the traders themselves remain skeptical. The proposed agreement between Washington and Tehran contains several conditions that sound impressive on paper. Iran has reportedly agreed not to pursue a nuclear weapon, the Strait of Hormuz would reopen to commercial traffic, some $25 billion in frozen Iranian assets could be released, and a 60-day negotiation period would begin to address sanctions, uranium enrichment, and broader regional security issues. Oil markets immediately celebrated the news because roughly 20% of global oil flows through the Strait of Hormuz. The mere prospect of reopening the waterway sent crude prices lower as traders rushed to price in a return to normality. Yet the actual details remain incomplete, por…

UAE Accuses Iran of Attacking ADNOC Tanker in Hormuz BYMUFLIH HIDAYATON MAY 4, 2026 Energy markets are built on assumptions of continuity. Tankers depart on schedule, cargo arrives as contracted, and the invisible infrastructure of global trade operates without interruption. When those assumptions fracture, the consequences spread far beyond the immediate incident. The Strait of Hormuz has long been the single point in the global energy system where those assumptions are most fragile, and the events of May 2026 have exposed precisely how catastrophic a fracture there can become. The UAE accuses Iran of attacking an ADNOC oil tanker in the Strait of Hormuz, and that accusation carries weight that extends well beyond a bilateral maritime dispute. It represents a formal declaration by a sovereign state that another sovereign state has crossed a threshold, one that reshapes the diplomatic, legal, and commercial landscape of Gulf energy trade. The narrow corridor separating Oman and Iran at the mouth of the Persian Gulf is, in physical terms, unremarkable. At its narrowest navigable point, vessels must pass through a channel roughly21 miles wide, with inbound and outbound shipping l…

RFE18 Jun 2026, 21:43 GMT+10 TheIran framework agreementgave an immediate boost to markets, with shares rising and oil prices dipping. But whether this translates into durable economic gains will largely depend on shipping in the Strait of Hormuz. There were signs of traffic beginning to revive on June 18 in the hours immediately after the US and Iranian presidents signed a memorandum of understanding to end the war, according to Windward, a maritime intelligence company. Speaking in an online briefing, Windward chief analyst Michelle Wiese Bockmann said 18 vessels had transited the strait between 6 p.m. on June 17 and 2 p.m. UTC on June 18, in what she described as "a sign of confidence in the agreement." SEE ALSO: Oil Prices Fall, Dollar Steady As US-Iran Deal Eases Supply Concerns Specifically, she said these were a French-flagged liquid natural gas (LNG) tanker, two Hong Kong-flagged tankers, an Italian-flagged vehicles carrier, a Japanese-controlled oil tanker, and some Saudi-flagged tankers. Ten of the vessels were outbound, having been stuck in the Persian Gulf for 109 days owing to the war that began with US and Israeli air strikes on Iran on February 28. Prior to t…

The Strait of Hormuz May Reopen, But the System Has Already Broken Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices ConocoPhillips Set to Become First U.S. Major to Sign Post-War Syria Gas Deal Find us on: Government ownership of AI companies… Microsoft, Google, Amazon, and Meta… A surge in oil prices… Cyril Widdershoven Cyril Widdershoven is a senior maritime, energy, and geopolitical analyst and Senior Advisor at Blue Water Strategy, specialising in the strategic intersection of shipping, ports,… More Info The market will panic when the Strait of Hormuz closes. When it reopens, policymakers will all feel relieved. At present, we are all witnessing this in real time, but reality is definitely the opposite. The latest data coming out in April 2026 should put an end to that illusion. Even after repeated announcements by Iran and the USA that Hormuz was “open,” real-time, actual maritime traffic only shows evidence o…

Strait of Hormuz remains shut as Trump pushes U.S. allies to help open ... Traffic through the Strait of Hormuz , the Persian Gulf waterway that serves as a key artery for global oil shipments, has been dramatically curtailed since the Iran war began. The passage of oil tankers and other commercial ships has all but halted in the strait, sparking concerns that a prolonged conflict in the region could constrain global oil supplies, according to economists. Crude prices, which hovered below $70 per barrel in the days before the start of military operations on Feb. 28, have soared above $100 a barrel for the first time since 2022. "The combination of an escalating conflict (including Israeli attacks on Iranian fuel depots), the ongoing disruption of Hormuz and announcements of producer shut-ins indicates the crisis is unlikely to be resolved any time soon," energy analysts with Eurasia Group, a political risk consulting firm, said in a report earlier this month. Here's what to know about the Strait of Hormuz. What is the Strait of Hormuz? The strategic sea passage, located on Iran's southern border, connects the Persian Gulf to the Gulf of Oman and the Arabian Sea. Long an important …

Special Focus: CRISIS AT THE STRAIT OF HORMUZ - EPRINC Executive Brief The Strait of Hormuz is the world’s most critical energy chokepoint . Approximately 18–20 million barrels per day of crude oil and roughly 20% of global LNG exports transit its 21-mile-wide shipping lane, representing about one-fifth of global petroleum supply. On February 28, 2026, the United States and Israel launched coordinated strikes against Iran under Operation Epic Fury, killing Supreme Leader Ali Khamenei. Iran retaliated with missile and drone attacks against U.S., Israeli, and other regional targets, and the IRGC declared the strait closed to all vessel traffic. By March 5, seven of the twelve major marine insurers had cancelled coverage across the Persian Gulf, collapsing tanker traffic from roughly 138 daily transits to near zero. The IEA has described the resulting disruption as the most severe supply shock in the history of the oil market, with an estimated 12–15 million barrels per day of crude and refined product flow interrupted. Iraq declared force majeure on all foreign-operated oilfields on March 20. Gulf producers have collectively cut output as storage saturation left them with no export …

Strait of Hormuz closure: which countries will be hit the most The closure of the Strait of Hormuz by Iran is sending shock waves across global energy markets, with Asia expected to face the maximum pain. A senior commander from Iran's Revolutionary Guard said Monday that theStrait of Hormuz had been shutand warned that any vessel attempting to transit the waterway would be targeted,Iranian media reported. Located between Oman and Iran, the strait functions as a vital artery for the global oil trade. Roughly 13 million barrels per day passed through it in 2025, representing about 31% of all seaborne crude flows, according to energy consulting firm Kpler. A prolonged closure of the strait would likelylead to a further surge in oil prices, with some analysts seeing oil crossing $100 per barrel. Global benchmarkBrentwas last up 2.6% at around $80 per barrel —almost 10% higher since the conflict broke out. About 20% of global liquefied natural gas exports that come from the Persian Gulf are also at risk, primarily those originating from Qatar and shipped via the Strait of Hormuz, according to Kpler. Qatar, one of the world's largest providers of LNG,halted productionon Monday afte…

Global Tensions and the Strait of Hormuz Crisis: A Geostrategic ... Diplomatic Pouch Global Tensions and the Strait of Hormuz Crisis: A Geostrategic Analysis By Diplomat Magazine March 18, 2026 0 11107 Share Facebook Twitter Pinterest WhatsApp Must read Diversifying Angola’s Economy Through Strategic Partnerships July 1, 2026 Building Trust Beyond Borders: Michael Schmid and the Future of Eurojust July 1, 2026 Kosovo at Eighteen: A Nation Built on Hope July 1, 2026 Do Diplomats Pay Income Tax? The Myth Behind Diplomatic Tax Privilege July 1, 2026 Diplomat Magazine http://www.diplomatmagazine.eu DIPLOMAT MAGAZINE “For diplomats, by diplomats” Reaching out the world from the European Union First diplomatic publication based in The Netherlands. Founded by members of the diplomatic corps on June 19th, 2013. "Diplomat Magazine is inspiring diplomats, civil servants and academics to contribute to a free flow of ideas through an extremely rich diplomatic life, full of exclusive events and cultural exchanges, as well as by exposing profound ideas and political debates in our printed and online editions." Dr. Mayelinne De Lara, Publisher By Qazi Zaheer Ahmad The Strait of Hormu…

The Strait of Hormuz Calculus Analysis of Iranian Transition ... The inaugural public address of a new Iranian Supreme Leader serves less as a policy roadmap and more as a foundational signaling mechanism designed to calibrate global risk perceptions. By explicitly referencing the Strait of Hormuz, the leadership is not merely repeating a historical threat but is updating a specific deterrent equation. This equation balances internal legitimacy, regional proxy synchronization, and the technical capacity to disrupt 20% of the world's total liquefied natural gas (LNG) and oil consumption. Understanding this shift requires moving past the rhetoric of "warnings" and into a structural analysis of how Tehran views the maritime chokepoint as a variable in a high-stakes kinetic and economic negotiation. The Geography of Asymmetric Leverage The Strait of Hormuz is a geographical bottleneck where the shipping lanes—each only two miles wide—are partitioned by a two-mile buffer zone. This physical constraint dictates the "Cost Function of Interdiction." Iran’s strategy does not require a conventional naval victory to achieve its objectives; it requires the credible threat of "functional closu…

Analysis: ​A 60-day ceasefire to reopen the Strait of Hormuz drops oil to $80. But, disputes over tolls, unmapped naval mines and depleted reserves mean shipping will take months to recover, keeping energy prices structurally elevated. Prices might not go back to normal anytime soon.

[3/5] Hormuz is a key global energy trade channel. Since the outbreak of the relevant war three months ago, navigation in the Strait has been greatly restricted. Oil-producing countries in the Middle East have been preparing to build supporting infrastructure to reduce Iran's

Hormuz reopening nears, but energy aftershocks to hit hard on Asia for ... Vessels are seen anchored in the Strait of Hormuz, off the port city of Khasab on Oman?s northern Musandam Peninsula on May 17, 2026. US President Donald Trump said on May 23 that Iran and the US had "largely negotiated" a deal that included opening the Strait of Hormuz, but the draft was "subject to finalization." (AFP/Yonhap) SEOUL, May 24 (AJP) -A draft framework between the United States and Iran to reopen the Strait of Hormuz is nearing finalization, Washington claims, offering hopes for relief from one of the worst energy supply disruptions in recent years. But for energy-dependent Asian economies including South Korea, the shock is far from over as crude shipments from the Gulf still require weeks to reach refineries even after maritime traffic resumes. U.S. President Donald Trump said Saturday that an agreement with Iran was “largely negotiated” and would include reopening the Strait of Hormuz, the strategic waterway through which roughly one-fifth of the world’s oil supply flows. The emerging framework would halt fighting, reopen shipping lanes and begin broader negotiations over Iran’s nuclear pro…

Iran-US deal signed: 62 million barrels set to leave Hormuz as Asia braces for oil glut The Strait of Hormuz is set to reopen after a US-Iran deal, potentially flooding Asian markets with millions of barrels of crude. Refiners, already well-supplied and reducing processing, now face worries of oversupply. This shift from earlier fears of shortages is reflected in falling oil prices and market contango.

Will the Iran war end Strait of Hormuz oil supremacy? The conflict has brutally exposed the energy market's Achilles' heel. While global powers China, India and the EU push renewables, Gulf leaders are advancing plans for new bypass pipelines to safeguard their oil empires.

Even with a deal to reopen the Strait of Hormuz, it could take weeks or ... Even with a deal to reopen the Strait of Hormuz, it could take weeks or months for oil to fully flow By By DAVID McHUGH and CATHY BUSSEWITZ, AP Business Writers Monday, Jun 15, 2026 10:44 AM A person stands in shallow water as cargo and commercial vessels are anchored in the Strait of Hormuz off Bandar Abbas, Iran, Monday, June 8, 2026. (Amirhosein Khorgooi/ISNA via AP) × A person stands in shallow water as cargo and commercial vessels are anchored in the Strait of Hormuz off Bandar Abbas, Iran, Monday, June 8, 2026. (Amirhosein Khorgooi/ISNA via AP) FRANKFURT, Germany (AP) — The tentative agreement to end the war in Iran and reopen the Strait of Hormuz would be good news for the global economy. But even as the price of oil dropped Monday, many questions remained about when and how it would start flowing again through the world’s most vital artery for energy shipments. Before the war, the strait carried a fifth of the world’s crude oil. Now, it will take time for hundreds of ships trapped in the Persian Gulf to exit through the narrow strait. And Gulf oil producers that throttled back production will need …

Oil and gas supplies could take months to return to normal after Iran ... The American Flag flies next to a One9 Fuel Stop sign displaying gas prices for diesel and unleaded gas in Wilmington, Ohio, Wednesday, June 10, 2026. (AP Photo/Carolyn Kaster) Customer checks gas price before she fills up her vehicle’s tank at a gas station in Lincolnshire, Ill., Monday, June 8, 2026. (AP Photo/Nam Y. Huh) NEW YORK (AP) — High oil and gasoline prices and energy supply problems won’t be solved overnight, despite anagreement to end the Iran war and open the Strait of Hormuzannounced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world’s demand, according to energy experts. The slow pace of the process of shipping and refining crude oil, and doubts about the security of traveling through the strait mean the effect won’t be seen immediately, they said. Ships loaded with crude oil have been stranded in the Persian Gulf for more than three months, unable to safely travel through the waterway, through which about a fifth of the world’s oil and gasoline supplies typically traveled before the war began. “It’s going to take time for p…