"There needs to be a predictable and stable flow of cargo through the strait before markets can stabilize. It's too early to tell when we return to normal."
"What we're seeing is the biggest disruption in the history of global oil markets. Before this conflict, approximately 120-140 ships passed through the Strait of Hormuz every day."
"On Wednesday, only five vessels crossed the strait, while seven passed through the waterway on Thursday. That shows why to get back to normal is going to be a while."
Experts indicate that a predictable and stable flow of cargo through the Strait of Hormuz is crucial for market stabilization. Despite a fragile ceasefire between Iran, the US, and Israel, oil and gas prices are unlikely to return to pre-war levels soon. Iran's actions have severely disrupted energy infrastructure, leading to soaring prices of energy and related products. The current situation represents the largest disruption in global oil markets, with a significant drop in vessel traffic through the strait, complicating the timeline for normalization.
Read at www.aljazeera.com
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