Hormuz Disruptions Persist Amid Pipeline Restart Hopes

The U.S. Energy Secretary Chris Wright expects the damaged pipeline to start up again in 'a matter of days', but sources told Reuters it could take a significant amount of time.

Hormuz remains disrupted, with only four visible vessel transits on Tuesday compared to seven on Monday and the 10-day average of 18. The waterway accounted for one-fifth of all international oil and LNG supplies before the conflict.

U.S. LNG exports have balanced the market due to disruptions in the Middle East, mainly lacking Qatari and UAE LNG exports through the Strait of Hormuz. This year, the region has lost 36 million tons of LNG.