Return to pre-crisis oil and gas supplies months away even if strait of Hormuz reopens (opens in new tab)

Markets welcome US-Iran peace deal but prices may stay high as buyers race to refill depleted emergency crude stockpilesAfter more than 100 days of the greatest recorded disruption to the world’s energy supplies, the global oil and gas markets have breathed a sigh of relief.Hours after Donald Trump confirmed that a US-Iran peace deal would lead to the reopening of the strait of Hormuz to tankers carrying millions of barrels of oil and gas, the price of Brent crude . Wholesale gas prices fell ...