Market Talk: Can economic pressure reopen the Strait?

Oil prices surged Friday as the US intensified economic pressure on Iran, threatening further measures to force the reopening of the Strait of Hormuz. Commodity expert Andrew Woods noted that persistent geopolitical uncertainty is causing volatility in oil markets. He stated that even if a deal is reached, a swift return to normal oil flows is unlikely, with market players anticipating at least six months for crude oil and potentially longer for refined products to return to pre-conflict levels.

STRAIT OF HORMUZ IRAN OIL PRICES ANDREW WOODS IEA