Oil and gas supplies may take months to normalize

The Guardian reports that oil and gas markets responded positively after Donald Trump said a U.S.-Iran peace deal would allow the Strait of Hormuz to reopen for energy shipping. Brent crude moved to about $82 per barrel, while wholesale gas prices also eased. Even so, Brent remains above last year’s average of $69 per barrel, and analysts expect prices may stay in the $80 to $90 range for much of the year as buyers rebuild reduced emergency crude reserves.

The timing matters because the agreement comes ahead of the peak summer travel season, when fuel demand typically rises. The strait, which previously handled roughly one-fifth of global oil and gas flows, may still require weeks of mine-clearing and shipping checks before major operators and insurers are comfortable returning to normal routes. More than 160 vessels have reportedly remained in the Middle East Gulf for over 100 days, adding to logistical delays.

For investors tracking Strait of Hormuz market developments and broader oil price outlooks, the article highlights how shipping access, insurance conditions, inventory rebuilding, and LNG supply constraints can continue to influence energy prices even after a major route begins reopening.

Source: The Guardian

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