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Oil flows through Hormuz will take time to recover, banks say
Key takeaways
- Shipments through the strait, through which about a fifth of global oil supply passes, were disrupted during the Iran conflict, sending oil prices sharply higher.
- Goldman Sachs said it expects Middle East Gulf exports to normalise to pre-war levels by the end of July, and crude production to recover by October.
- While ship availability is not a binding constraint on exports, cautiousness by shipowners could limit them, it said.
Oil flows through Hormuz will take time to recover, banks say Reuters Thu, June 18, 2026 at 9:41 PM GMT+7 1 min read CL=F June 18 (Reuters) - A recovery in oil flows through the Strait of Hormuz and oil production following the U.S.-Iran interim peace deal will take time, potentially several months, analysts at two banks said.
Shipments through the strait, through which about a fifth of global oil supply passes, were disrupted during the Iran conflict, sending oil prices sharply higher. Brent crude rose to as much as $126 a barrel in April, a four-year high.
Goldman Sachs said it expects Middle East Gulf exports to normalise to pre-war levels by the end of July, and crude production to recover by October.
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