US-Iran ceasefire: Oil, gas crisis recovery to take months (opens original article in a new tab)

US and Iran have reached a ceasefire agreement, but oil and gas production recovery is expected to take months, with global inventories significantly reduced.

• US and Iran reached a ceasefire agreement to reopen the Strait of Hormuz
• Oil production and refining levels may take months to return to pre-war levels
• Global oil inventories have decreased by over 1 billion barrels since the conflict began
• Refineries in the Gulf may reach 90-95% capacity within 40-60 days