Rebecca F. Elliott of the New York Times reminds readers that even if the strait does open fully, it will take weeks for oil from the region to flow back into world markets. High oil prices will persist for weeks, at least, as producers wait to make sure stability has really returned before they ramp production back up on the 20% of facilities in the region that have not been damaged. The damage from Trump’s attack on Iran “has inflicted the kind of damage that takes months, if not years, to repair,” Elliott wrote. Energy research and investment firm partner Arjun Murti told Elliott: “We don’t expect oil prices—and therefore pump prices—to go back to prewar levels.”

80% of facilities have been damaged?? Fkn hell.

Yesterday I was reading about a cruise ship (no passengers) which had been waiting for something like 47 days to get through the Strait. As soon as the Strait opened, it barrelled through and made it before the Strait closed again. I read about one of the Celestyal cruise ships; didn’t hear about the other four stranded cruise ships.

https://www.seatrade-cruise.com/ship-operations/five-gulf-stranded-cruise-ships-clear-strait-of-hormuz