23 Hrs
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البلاد
600 ships stalled at Hormuz Strait
The United States and Iran have agreed to reopen the Strait of Hormuz, leading to welcomed reactions from shipping companies and oil markets. However, concerns over security and the presence of around 600 ships stranded inside the Gulf remain. This reopening is expected to take place within 30 days, with further details anticipated before full resumption of movement, amid risks of naval mines and rising insurance costs. This step is considered crucial for restoring the flow of global oil and gas supplies that were halted due to the war, and it impacts stock markets and global prices.
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