RBC: It will take several months for the traffic volume in the Strait of Hormuz to return to pre-war levels.

Helima Croft and other RBC Capital Markets analysts wrote in a memo that it would take several months for ship traffic in the Strait of Hormuz to recover to near pre-war levels, especially if the security situation remains volatile. "Peak transportation levels in the Strait of Hormuz may be a thing of the past," they wrote. Stocks will continue to bear the burden until bottleneck issues in the strait are resolved, and Gulf countries are able to speed up the restoration process and fully resume production. The ownership of operations in the Strait of Hormuz will also be a key component of any reopening plan. "We expect some companies and countries to be willing to pay for services, as some companies and countries have already paid fees for passage through the strait," they noted. "However, we doubt many Western companies will be willing to do so, particularly as regardless of the outcome of Friday's memorandum of understanding, the Iranian Islamic Revolutionary Guard Corps may still be a sanctioned entity."