1340 ET - The longer the U.S.-Iran war drags on, and the longer the Strait of Hormuz remains closed, makes a return to normalcy in energy that much more complicated. While oil prices are expected to draw back considerably if a peace deal is made, the process of clearing the logjam of ships attempting to enter and leave the Strait looks to be extensive, says David Oxley of Capital Economics in a note. "At best, it could take weeks for ships to reposition themselves," says Oxley. "At worst, a lack of shipping could be a constraining factor for months and delay production timetables." The movement of oil prices has been a key factor dictating how other commodities move, which is why many agricultural futures and metal futures have added war premium. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
May 21, 2026 13:40 ET (17:40 GMT)
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