Hormuz Reopening Could Take 3 Months to Restore Oil Flows as 15 Million Bpd Remains Shut
Updated
Updated · CNN · May 24
Hormuz Reopening Could Take 3 Months to Restore Oil Flows as 15 Million Bpd Remains Shut
5 articles · Updated · CNN · May 24
166 tankers carrying about 170 million barrels are stranded in the Persian Gulf, and analysts say returning the Strait of Hormuz to full transit capacity could take up to three months.
15 million barrels per day of Middle East supply — 12 million of crude and 3 million of refined products — remains offline as producers first drain swollen storage, then slowly restart wells without damaging reservoirs.
Years-long repairs may still be needed at some refiners, gas producers and oil facilities damaged in the war, adding another brake on any return to prewar output.
Brent settled a little above $100 on Friday and has not held below $94 since mid-March, with traders still demanding proof that Iran will allow durable passage rather than another short-lived reopening.
Thousands-percentage-point jumps in marine insurance and Iran's insistence that higher vessel numbers do not mean fully free passage suggest oil and gasoline prices may stay elevated even if peace talks hold.
If peace is declared, what will convince insurers to restore affordable passage through the Strait of Hormuz?
Peace with Iran is announced, so why won't gas prices fall to pre-war levels until 2032?
Will international law be rewritten as Iran plans to charge tolls for passage through the Strait of Hormuz?
The 2026 Strait of Hormuz Shutdown: The Largest Oil Supply Shock in History and Its Global Economic Fallout
Overview
In May 2026, the effective shutdown of the Strait of Hormuz—a vital route for 20 million barrels of oil daily—triggered a global crisis. This chokepoint’s closure halted $600 billion in annual energy trade, leaving critical transportation infrastructure unable to source fuel and causing widespread disruptions in shipping, aviation, and logistics. As a result, essential services and industries faced potential standstill. The report highlights how this unprecedented event exposed deep vulnerabilities in global energy security, set off severe economic shocks, and accelerated the push for more resilient and diversified energy systems worldwide.