Potential U.S.-Iran deal could restore Hormuz oil flows in 30–60 days

A potential U.S.-Iran agreement could restore oil traffic through the Strait of Hormuz within the next 30–60 days. The U.S. says vessels under its protection are moving about seven million barrels of oil per day through the strait. The article adds that roughly 10,000 long-shut oil wells—said to represent about 15% of global output—could be restarted, while Brent has fallen from $93 to $83 as China, the largest importer, waits for lower prices to return.