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EIA Forecasts Strait of Hormuz to Remain Closed Through May, Shipping to Resume in June

GateNews
Commodities

According to EIA’s Short-Term Energy Outlook released on May 13, the Strait of Hormuz will remain closed through the end of May, with shipping volumes expected to resume in June. The agency assessed that Iraq, Saudi Arabia, Kuwait, UAE, Qatar, and Bahrain collectively shut down 10.5 million barrels per day of crude oil production in April. EIA revised its 2026 global oil inventory forecast to a 2.6 million barrel-per-day decline, up from the 300,000 barrel-per-day decline projected in April’s outlook, citing extended production disruption recovery periods and delayed strait reopening.

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