economy
April 10, 2026
Energy crisis will last for months
Energy markets will take months to stabilize even if the Strait of Hormuz reopens, Kirill Dmitriev warns as airlines confirm a long recovery
TL;DR
- Global energy markets will require months to recover from the US-Israeli war on Iran.
- The reopening of the Strait of Hormuz is not expected to immediately stabilize energy markets.
- Jet fuel prices have more than doubled due to destroyed refineries and disruptions.
- Over 800 vessels are trapped in the Persian Gulf, impacting approximately 20,000 seafarers.
- A global commodity shock is anticipated, affecting energy, fertilizers, food, and consumer goods.
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