U.S. and Iran clash over MOU terms ahead of Friday signing as Kpler sees Hormuz traffic at 45% in one year
The U.S. and Iran are preparing to sign a Memorandum of Understanding on Friday, but the two sides are describing its contents in sharply different ways. Iran has warned that Israel’s continued strikes in Lebanon could cause the arrangement to unravel. The reopening of shipping through the Strait of Hormuz is expected to be heavily delayed, with energy analytics firm Kpler projecting traffic returns to only 45% of pre-war levels in one year. On the current trajectory, the piece says an “energy cliff” could be triggered in late July to early August as oil inventories keep being drawn down and the supply gap widens.
