The Hormuz Shock Is Far From Over
The latest Bloomberg data show that shipping transits through the Strait of Hormuz remained largely disrupted Monday morning, even as Iran and Oman reportedly moved closer to a deal. Brent crude futures traded near $85 a barrel as markets priced in the possibility that a deal to reopen the maritime
Source: OilPrice.com
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DW NOTE
The standoff that started in April is now in its fourth month. Two thousand ships still can't move. Even if the interim agreement lands this week, mine clearance takes six months, meaning the earliest full resumption is March 2027. Brent is down 26% from its yearly high — not because the crisis is over, but because markets priced in the reopening before it happened.