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Hormuz Faces Slow Reopening as Shippers Battle -2-
0843 GMT - Energy flows are expected to return to around 80% of pre-disruption levels by the end of the third quarter, says Neil Shearing from Capital Economics. "It is likely that it will take some time for oil flows through the Strait to return to prewar levels," the chief economist says. "Even if ships now have safe passage, tankers are in the wrong place, oil production/refining facilities need to get up to full capacity, and questions over the cost and availability of insurance for ships traversing the Strait will remain." Natural-gas flows instead are likely to recover more slowly as Iranian strikes against Qatari facilities have taken about 17% of output offline. (giulia.petroni@wsj.com)
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thehindubusinessline.com
Oil supply recovery may take months despite Strait of Hormuz reopening
Experts warn oil and fuel prices may remain high as restoring production, shipping and confidence after Strait of Hormuz disruption could take months.
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euronews.com
Energy experts warn of slow oil supply recovery after Iran deal
High oil and gas prices and energy supply problems won't be solved overnight, despite Sunday's agreement to end the Iran war and reopen the Strait of Hormuz.
