"The coming months could see persistent..."

The scale of the Hormuz supply loss intensified last month due to the US blockade of Iranian exports.

The continued closure of the Strait of Hormuz is creating ever-deeper deficits that will take longer to pull back to normal the longer the situation continues.

The present tranquility will not last.

Acccording to the analysis by Rapidan Energy Group, if the Strait reopens in July, an average oil demand reduction of 2.6 million barrels a day and the spot-market price for…

Rapidan Energy Group warns a prolonged Strait of Hormuz closure could trigger a recession rivaling 2008 as Brent crude surges nearly 40% above pre-closure levels.

"The coming months could see persistent..."

The closure of the Strait of Hormuz until August would significantly increase the risk of an economic downturn approaching the scale of the 2008 global financial crisis.

IEA warns Hormuz Strait crisis could push global oil markets into a ‘red zone’, draining emergency reserves and driving up fuel prices worldwide.