Shipping through the Hormuz Strait remains severely disrupted, even as Iran and Oman reportedly move toward a deal. Brent crude futures are trading near $85 a barrel as markets price in the possibility of reopening the maritime chokepoint:
UBS’s supply chain stress index has fallen from its June peak but remains elevated compared to pre-conflict levels. Shipping costs are rising again, and oil and gas flows are still constrained:
If the Strait of Hormuz reopens, energy, freight, and inventory disruptions could persist for months.
