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June 16, 2026

Even with a deal to reopen the Strait of Hormuz, it could take weeks or months for oil to fully flow

  • Many questions remain about when and how oil would start flowing again through the world's most vital artery for energy shipments.
    • By DAVID McHUGH and CATHY BUSSEWITZ
    AP Business Writers

    FRANKFURT, Germany — The tentative agreement to end the war in Iran and reopen the Strait of Hormuz would be good news for the global economy. But even as the price of oil dropped Monday, many questions remained about when and how it would start flowing again through the world's most vital artery for energy shipments.

    Before the war, the strait carried a fifth of the world's crude oil. Now, it will take time for hundreds of ships trapped in the Persian Gulf to exit through the narrow strait. And Gulf oil producers that throttled back production will need time to get the oil moving again. Analysts also say ship captains may take their time to decide if passage is safe and that the threat of attack from Iran has truly receded.


     
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