It could take years for oil prices to return to $67 a barrel. Here’s why. (opens original article in a new tab)

Oil prices may take years to return to $67 a barrel due to excess global crude supplies and lower shipping costs, despite a U.S.-Iran ceasefire extension and Strait of Hormuz reopening.

• U.S. and Iran extend ceasefire by 60 days
• Strait of Hormuz to reopen
• Global crude supplies exceed demand
• Shipping costs to decrease