Experts Warn Oil Supplies Will Lag After Deal

Despite the signing of an agreement between the United States and Iran to end the war and open the Strait of Hormuz, the issue of rising gasoline prices will persist for several months. Restoring oil supplies to their normal levels requires time to overcome the effects of the war and achieve stability in shipping and refining operations. Oil prices have decreased significantly following the announcement, with Brent crude dropping to around $83 and West Texas Intermediate to $80. However, they remain higher than pre-war levels, which were approximately $70.

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