{"id":785,"date":"2026-06-15T05:09:39","date_gmt":"2026-06-15T05:09:39","guid":{"rendered":"https:\/\/topmovingpross.com\/?p=785"},"modified":"2026-06-15T05:09:39","modified_gmt":"2026-06-15T05:09:39","slug":"oil-and-gas-supplies-could-take-months-to-return-to-normal-after-iran-deal-energy-experts-say","status":"publish","type":"post","link":"https:\/\/topmovingpross.com\/?p=785","title":{"rendered":"Oil and gas supplies could take months to return to normal after Iran deal, energy experts say"},"content":{"rendered":"
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NEW YORK (AP) \u2014 High oil and gasoline prices and energy supply problems won\u2019t be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz<\/span> announced Sunday.<\/p>\n

Read more What to know about the G7 summit Trump is attending in France<\/a><\/p>\n

It will likely take months before energy companies can resume operations to the point of meeting the world\u2019s demand, according to energy experts. The slow pace of the process of shipping and refining crude oil, and doubts about the security of traveling through the strait mean the effect won\u2019t be seen immediately, they said.<\/p>\n

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\u2019s oil and gasoline supplies typically traveled before the war began. <\/p>\n

\u201cIt\u2019s going to take time for people to feel comfortable and for insurance to be in place … particularly to get people on the ground to restart some of these assets,\u201d said Daniel Evans, global head of fuels and refining research at S&P Global Energy. <\/p>\n

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Still, oil prices slipped early Monday after the deal was announced.<\/p>\n

Brent crude, the international standard, was down $3.45 at $83.89 per barrel. U.S. benchmark crude oil lost $4.03 to $80.85 per barrel.<\/p>\n

Those prices are still well above the roughly $70 per barrel where oil was trading before the war started.<\/p>\n

As the higher prices unwind, ships that have been stranded will have to exit the strait, and then new tankers will have to come in to be loaded, Evans said. <\/p>\n

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\u201cTo bring a ship in, you need to be confident that you\u2019ve got a big enough window of safety to bring it in, load it and move it out,\u201d he added.<\/p>\n

Read more Trump heads to G7 summit with wind at his back after announcing agreement aimed at ending Iran war<\/a><\/p>\n

Oil tankers also move slowly, he explained. It takes months to travel from the strait to distant countries, deliver the crude oil to a refinery for processing and then arrive at its final destination.<\/p>\n

In addition, some producers in the Middle East paused extracting oil from the ground, known as a shut-in, when they ran out of storage space. Restarting those operations can be a slow process. <\/p>\n

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Countries such as Saudi Arabia and United Arab Emirates, where there are alternate pipelines or routes besides the Strait of Hormuz to deliver oil, may be among the quickest to resume production, said Alan Gelder, senior vice president of refining, chemicals and oil markets at Wood Mackenzie, an analytics firm. <\/p>\n

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