As I write this, more than two thousand ships and twenty thousand mariners remain stranded across the Persian Gulf. Iran’s parliament speaker has declared that reopening the Strait of Hormuz is impossible while the US naval blockade of Iranian ports holds. Ship traffic through the world’s most important energy chokepoint is running at a fraction of its pre-war level. Rystad Energy’s latest assessment, published last week, projects that oil flows will return to 90 per cent of pre-war levels only in July — and that the barrels which do begin moving will take another two months to reach refineries. The Atlantic Council is now openly advising governments to prepare for fuel rationing.
This is a companion discussion topic for the original entry at https://ageoftransformation.org/hormuz-is-decapitating-the-oil-age