US Official Forecasts Restoration of Hormuz Oil Flows Within Two Months

The United States government has provided a timeline for the restoration of oil shipments through the Strait of Hormuz, one of the world's most critical maritime chokepoints. Kevin Hassett, Director of the National Economic Council, indicated that normal supply levels could be restored within the next two months. The Strait of Hormuz is essential for the transit of crude oil and liquefied natural gas from the Persian Gulf to global markets. Any significant disruption in this region typically triggers immediate volatility in energy futures and raises concerns over global inflationary pressures and supply chain stability. According to Hassett, maritime traffic is currently severely restricted, with vessels moving through the strait at approximately 10% of their usual pace. This drastic reduction in flow underscores the severity of the ongoing disruption and the pressure currently facing global energy markets. The prospect of a return to normal supply levels within 60 days may provide a ceiling for oil prices, as markets begin to price in the resolution of the supply shock. Traders and analysts will likely monitor official diplomatic developments to confirm the timeline provided by the NEC Director.