It could take years for oil prices to return to $67 a barrel. Here's why.

The U.S. and Iran have tentatively agreed to extend their ceasefire by 60 days and reopen the Strait of Hormuz, a key route for global crude flows. While the move reduces immediate geopolitical risk, the article says markets will not normalize unless there is a surplus of global crude and lower shipping costs. The main implication is near-term relief for energy and tanker logistics, but continued uncertainty around oil supply and transport pricing.

Analysis

The U.S. and Iran have tentatively agreed to extend their ceasefire by 60 days and reopen the Strait of Hormuz, a key route for global crude flows. While the move reduces immediate geopolitical risk, the article says markets will not normalize unless there is a surplus of global crude and lower shipping costs. The main implication is near-term relief for energy and tanker logistics, but continued uncertainty around oil supply and transport pricing.