Oil and gas supplies remain low despite reopening Strait of Hormuz
Oil and gas supplies may take months to recover to pre-crisis levels, despite a potential reopening of the Strait of Hormuz. Prices for Brent crude have dropped to $83 per barrel, but experts predict continued high prices as stockpiles remain depleted. A full return to normalcy hinges on US-Iran cooperation amid rising political pressures.
Summary by OZbrief Editorial · The Guardian Australia – Business · Source
Take it further — get the full app and never miss a moment of what's happening in Australia.
This publisher's site can't be shown here due to their security settings.
Open full article →No source link available for this article.
Published 15 Jun 2026, 13:13 UTC · Updated 15 Jun 2026, 13:30 UTC
Summary by OZbrief Editorial. Original report: The Guardian Australia – Business. Editorial policy · Corrections
Related stories
- Video of shark captured after Coogee attack
- Climate change and El Niño could form 'dangerous double act'
- Helicopters, boats and jet skis search for shark at Coogee
- Man charged over alleged harassment of Bondi royal commission witness
- Economist predicts rate-hiking cycle may be over despite persistent inflation concerns
- Ashes, tears and power rise in a farewell to old Leichhardt
Trending
- Royal Ascot 2026: horse racing updates from day five – live
- Nollamara backyard development under investigation by City of Stirling amid neighbours’ concerns
- Europe's AI complacency risks economic collapse by 2031, warns think tank
- ‘Horrific’: Train delays after man dies in fuel tanker rollover in Darnum
- Andy Burnham wins Makerfield byelection, emerges as Labour leadership contender
- JLR at risk of battery supply delays after Somerset factory turmoil