CNBC: Strait Of Hormuz Reopening Will Probably Take Weeks (opens in new tab)

It will take weeks to clear the backlog of ships in the Strait of Hormuz, industry executives and shipping experts have , as the critical waterway is set to reopen. Oil prices initially dipped below $80 per barrel on news that the U.S. and Iran had ALLEGEDLY agreed on a deal to end their war, as traders looked to the supply of oil, LNG and other goods being restored after nearly four months of war caused a maritime traffic jam of ships unable or unwilling to transit the Strait. U.S. President...