Race To Reopen Hormuz Intensifies As Global Supply Chain Stress Remains At COVID Levels

Race To Reopen Hormuz Intensifies As Global Supply Chain Stress Remains At COVID Levels The latest Bloomberg data show that shipping transits through the Strait of Hormuz remained largely disrupted Monday morning, even as Iran and Oman reportedly moved closer to a deal. Brent crude futures traded near $85 a barrel as markets priced in the possibility that a deal to reopen the maritime chokepoint could be imminent. Yet global supply-chain stress remains near its highest level since the pandemic, and any normalization could take months, even if shipping traffic resumes. UBS senior international economist Pierre Lafourcade highlighted the bank's proprietary Global Supply Chain Stress Index, which showed that although...

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