Strait of Hormuz reopening may not ease Asia’s oil and LNG squeeze before August

The article says that even if the Strait of Hormuz reopens, Asia’s crude oil and LNG tightness could persist into August and beyond because tanker voyages are long, regional oil inventories are at multi-year lows, and key facilities such as Qatar’s Ras Laffan LNG terminal were damaged in the war. It adds that prices are unlikely to fall quickly. The Philippines has declared a national energy emergency, while several Southeast Asian countries have introduced diesel rationing, restarted coal power and accelerated ethanol-blending programs. The peace arrangement is described as a 14-point memorandum of understanding with uncertain enforcement, alongside U.S. threats to resume strikes and Iran’s creation of a new authority for the Strait that adds uncertainty.