Trump says Strait of Hormuz will be 'completely open' by Friday. Then what? (opens original article in a new tab)

The Strait of Hormuz may reopen by Friday following a US-Iran ceasefire agreement, potentially easing global oil supply disruptions but with delayed effects on prices and the economy.

• The Strait of Hormuz could reopen by Friday after a ceasefire agreement with Iran, ending a three-month closure that disrupted global oil shipments.
• Oil prices may not drop immediately as production and shipping recovery could take months, with some experts predicting prices to remain high for years.
• Australian petrol prices have decreased but the fuel excise rebate is set to expire, with no extension announced yet.