Energy — Strait of Hormuz Reopens as Oil Drops 10%, But IEA Warns Gulf Output Recovery Could Take Two Years

Energy · 2026-04-17

TODAY'S SIGNAL — The energy world is caught between short-term relief and long-term structural damage. Iran's declaration that the Strait of Hormuz is "completely open" sent oil prices plunging 10%, with Brent falling below $90 — but this masks a far grimmer reality. The IEA's Fatih Birol estimates Gulf oil and gas output may take two years to recover, with over 80 facilities damaged and Rystad…