There needs to be a predictable and stable flow of cargo through the strait before markets can stabilise, experts say.
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Even though a fragile ceasefire between Iran and the United States and Israel has been announced, it’s going to be a long time before prices of oil and gas come back to pre-war levels, experts say.
In response to the US-Israeli attacks, Iran choked off the Strait of Hormuz, the narrow channel linking the Gulf to the Gulf of Oman, through which roughly 20 percent of the world’s oil and gas exports pass from the Middle East, mainly to Asia and also to Europe.
