Why reopening the Strait of Hormuz won’t be enough to solve shipping woes and high oil prices

Reopening the Strait of Hormuz is proving to be difficult. But even if the vital waterway fully opens and oil and other necessary cargo sail out, it won’t be enough to return things to normal.

That’s because empty ships will need to sail back into the strait to keep the flow of goods moving. Experts say that shipping lines won’t start entering the Persian Gulf through the strait as long as there’s a strong risk that the ceasefire is only temporary.

Tankers and ship owners — as well as their insurers — won’t allow their ships to re-enter the Gulf unless they’re sure they won’t

→ Continue reading at CNN - Business News

More from author

Related posts

Advertisment

Latest posts

‘SNL’ spoofs Artemis II mission, Melania Trump | CNN Business

‘SNL’ spoofs Artemis II mission, Melania Trump Link Copied!...

Tell us: How much inflation can your budget take?

Sharply rising gas prices drove inflation to 3.3% in March, the highest rate in nearly two years. Inflation is expected to...

Flight Path Data Shows How Mosquitoes Target Humans

Infectious diseases borne by mosquitoes—such as malaria, dengue fever, and Zika fever—claim more than 770,000 lives worldwide each year. Understanding how mosquitoes find humans...