Mines, broken logistics, damaged infrastructure: it will take months to restore normal shipping through the Strait of Hormuz
After three and a half months of war, the United States and Iran have reportedly reached an agreement that will end the conflict and allow the Strait of Hormuz to reopen. Oil, natural gas, and fuels will once again flow through the Middle East, thereby averting a critical point where reserves would have been depleted and an irreversible economic recession would have struck much of the world. The price of oil has fallen sharply following the announcement of the agreement, in an initial reaction of relief from governments, businesses and consumers, but a return to normalcy will not be an easy task—and it is by no means imminent.
