Analyst: The resumption of operations in the Hormuz Strait may take 1 to 3 months.

According to data from the American Automobile Association, the average gasoline price in the United States reached $3.70 per gallon yesterday, rising 24% since the outbreak of the Iran war on February 28. U.S. Energy Secretary Chris Wright acknowledged the economic impact of the conflict, but stated that enduring "short-term pain" is better than "allowing Iran to have nuclear weapons." Homayoun Falakshahi, Chief Oil Research Analyst at Kpler, stated that even if the war were to end today, it could take 1 to 3 months to reopen the Strait of Hormuz - through which 20% of global oil is transported. Clearing hundreds of waiting ships for safe passage, allowing major oil producers to repair damaged facilities, increase production, and get oil flowing again, all takes time.