Oil Traders Say Billion-Barrel Hole Will Linger Long After War

The impact of the Iran war will continue for months even after any deal to restore shipping through the Strait of Hormuz, the world’s largest oil traders have warned. Some said flows through the waterway may never return to normal.

Brent futures are trading just below $100, down sharply from highs of nearly $120 in the weeks immediately following the war, as the market watches for news on peace talks due to be held in Pakistan.