Business 15 Jun 2026

What it will take to restore global energy flow — and bring down gas prices

U.S. President Donald Trump says "let the oil flow." But actually getting global oil markets back to anything close to normal will take time, money and pose an immense logistical challenge.

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This story is part of Mind Your Business, a weekly analysis of the biggest business stories emailed to subscribers on Monday mornings. In a lot of ways, the deal to end the conflict in the Middle East is the easy part. Getting that deal to stick and finding a way to restore global energy flows is the tough part. When U.S. President Donald Trump announced a deal had been reached, he posted a message to his social media site Truth Social. Ships of the World, start your engines. Let the oil flow!” he wrote on Sunday. The text of the agreement has not been released but the date for getting that oil flowing moved very quickly. Instead of immediately, Trump now says the Strait of Hormuz will open later this week. “With the opening of the Strait upon the signing of the Deal on Friday, for purposes of mine removal, oil will flow on both ends again for the Region, and the World!” he posted. But getting oil flowing again will take much more than a memorandum of understanding. Under normal circumstances, about 20 million barrels of oil pass through the strait every day.

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