Hassett predicts oil will flow through Strait of Hormuz in 'a month or two'
Key takeaways
- Hassett told ABC s Jonathan Karl on This Week that there is a lot more traffic passing through the strait now than there was two weeks ago.
- And so, the people in Pakistan and India that have refineries that are mostly shut down, they re going to get their oil, he said.
- Iran s closure of the strait has led gas prices to skyrocket since the conflict began in late February.
Why this matters: political developments that affect policy direction and public trust.
Hassett told ABC s Jonathan Karl on This Week that there is a lot more traffic passing through the strait now than there was two weeks ago.
And so, the people in Pakistan and India that have refineries that are mostly shut down, they re going to get their oil, he said. They turn the refineries up and then refine product prices will go down globally, and then it ll spread from place to place. But, really, it s like a month or two until everything gets back to the refineries.
Iran s closure of the strait has led gas prices to skyrocket since the conflict began in late February. Hassett said that these prices have not been nearly as high as a lot of people forecasted because, in part, people have found ways to adjust.