Iran-US Conflict Continues to Disrupt Oil Supplies Through Strait of Hormuz

The ongoing conflict between the US and Iran has caused severe damage to the global energy lifeline. According to the latest forecast from the U.S. Energy Information Administration (EIA), the oil supply disruption in the Strait of Hormuz is expected to last through the end of next year, with an estimated 600,000 barrels per day lost.

The EIA's Short-Term Energy Outlook released on Tuesday indicates that oil transported through the Strait of Hormuz averaged 4.9 million barrels per day in the second quarter of this year, a significant drop from the 21.6 million barrels per day recorded before the conflict began.

Iran's hardline stance has made it unlikely that the Strait will reopen soon, with the newly appointed secretary of Iran's Supreme National Security Council stating that it will remain closed as long as the US does not change its behavior and accept Iran's conditions for ending the war.