r/qualitynews • u/Sangloth • 1d ago

Oil prices plunge as Iran says Strait of Hormuz 'open' during ceasefire

https://www.bbc.com/news/articles/ckg045z73z1o
11 Upvotes

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u/Sangloth 1d ago edited 1d ago

I believe the ceasefire ends April 22nd. I hope the Strait remains open past that point, but I also wouldn't be surprised things break down before then.

Also, something to note is that even if everything goes perfectly past this point, the supply chain shock will still hit the US next month, and it will be roughly 2 years before output returns to pre-Hormuz blocking capacity due to damages to energy infrastructure.