Iran war: Even a peace deal won't fix energy crunch
Key takeaways
- The growing energy and supply chain crisis is unlikely to ease even if the US and Iran step back from the brink.
- Many policymakers, businesses and investors believe that a rapid reopening of the Strait of Hormuz will quickly bring down energy prices, once stranded oil and gas tankers can finally leave the Gulf.
- Yet top oil executives, shipping sector leaders and economists are predicting the opposite.
Why this matters: an international story with cross-border implications worth tracking.
The growing energy and supply chain crisis is unlikely to ease even if the US and Iran step back from the brink. Experts warn that reopening the Strait of Hormuz and repairing infrastructure could take months or years.
https://p.dw.com/p/5ER95For the last three months, Hormuz has become the definition of a dire strait Image: US Navy/Planet Pix/ZUMA/picture alliance Advertisement As the Iran war approaches 100 days on Sunday, a comforting but flawed assumption has taken hold.
Many policymakers, businesses and investors believe that a rapid reopening of the Strait of Hormuz will quickly bring down energy prices, once stranded oil and gas tankers can finally leave the Gulf.