Officially, it is not on the agenda of the Evian G7 discussions, but it will be at the center of the conversations. The reopening of the Strait of Hormuz is today the priority of Western leaders. “Oil stocks are melting at full speed and will reach a critical level in September, if nothing is done by then,” warns Maxime Darmet, economist at Allianz Trad. An agreement between the United States and Iran would obviously be welcomed, even if no one expects maritime traffic to return to normal in this area, where 20% of the world’s crude transits, for several months.
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