Energy firms brace for 'new era' despite Hormuz deal (opens in new tab)

Even if the deal between Iran and the United States to end the Mideast war holds, analysts say the old market certainties are gone for good -- and the new risks will probably require costly adaptions. Business as usual? "A credible reopening of the Strait of Hormuz would be one of the most important developments for the global economy at this juncture," said Claudio Galimberti, chief economist at Rystad Energy. The shock of a near-doubling of oil prices since Iran effectively closed off the c...