Iran’s Foreign Minister declared the Strait of Hormuz “completely open” on 17 April 2026 and equity markets printed all-time highs. The strait was never the disease. A structural 11 to 13 million barrels per day global supply deficit — driven by destroyed upstream production, captive Qatari LNG with no pipeline bypass, and 800 million barrels of stranded crude behind a corridor moving five ships a day — persists regardless of any corridor announcement. The declaration expires 26 April. The deficit does not.
Tag Archives | energy geopolitics
