"Under the current ceasefire, fewer than 15 ships per day are permitted to transit the Strait of Hormuz. This movement is strictly contingent upon Iran's approval and the enforcement of a specific protocol."
"Oil prices, which surged during the conflict, are expected to remain elevated and volatile as traders factor in ongoing disruptions and uncertainty about future flows."
"For UK drivers, the impact is immediate. Pump prices, already inflated by weeks of conflict, are likely to remain stubbornly high as retailers pass on the cost of more expensive crude and increased shipping and insurance premiums."
Iran has limited traffic through the Strait of Hormuz to 15 ships daily, significantly reducing global oil supply. This restriction, part of a fragile ceasefire, leaves energy markets operating below normal capacity. Oil prices are expected to remain high and volatile due to ongoing disruptions. UK drivers will experience immediate impacts, with pump prices remaining elevated as retailers adjust to increased crude costs and shipping premiums. A 'war premium' is now included in fuel costs, reflecting supply risks and delays in global shipping networks.
Read at London Business News | Londonlovesbusiness.com
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