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The Conversation
The Conversation
Behrouz Bakhtiari, Assistant Professor, Operations Management, McMaster University

The Strait of Hormuz is reopening, but global shipping won’t return to normal for months

Strait of Hormuz Hormuz Insurance Oil Iran HapagLloyd Suez Canal United States

Iran and the United States are about to sign a peace deal that will reopen the Strait of Hormuz, the narrow waterway that carries about one-fifth of the world’s oil.

Oil prices reacted quickly to the announcement of the tentative deal, dropping from highs that had pushed gasoline prices toward record levels in North America.

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