It will likely take months before energy companies can resume operations and meet global demand, according to energy experts. The slow pace of shipping and refining crude oil, along with uncertainty over safe passage through the strait, means any relief will not be immediate, they said.
Ships loaded with crude oil have been stranded in the Persian Gulf for more than three months, unable to safely travel through the waterway, through which about a fifth of the world’s oil and gasoline supplies typically travelled before the war began.
