The temporary agreement between the United States and Iran to reopen shipping through the Strait of Hormuz is unlikely to return global oil trade to its pre-war state. Many buyers have already found alternative supply routes.
This is reported by Bloomberg, citing analysts.
Experts say a peace deal between the US and Iran will reduce risks to energy supplies and ease pressure on prices, but it will take a long time to restore confidence among shipowners, insurance companies and oil refiners.
The chief investment officer at Karobaar Capital Garis Gurshid said some companies have spent months looking for alternative sources of supply and stockpiling supplies, so they may be reluctant to return to the Strait of Hormuz even when it reopens.
SVB Energy International believes importers will continue to spread logistics across more routes and seek new suppliers. The companyʼs founder Sarah Vahshuri said the oil market has changed forever.
At the same time, Saxo Markets reminded that before full resumption of shipping, it is necessary to demine the Strait of Hormuz. In addition, market participants may face port congestion and new political problems between the US and Iran.
- On the night of June 15, the US and Iran agreed to a peace agreement. Both sides announced that they would cease fire on all fronts, including Lebanon. However, the Israeli media outlet Ynet, citing sources , wrote that Israel would continue operations in Lebanon against Hezbollah terrorists, despite the US-Iran peace agreement.
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