Donald Trump’s economic adviser, Kevin Hassett, has said that the Strait of Hormuz could reopen and that oil supplies could return to normal within the next two months, with hopes of reconciliation between the US and Iran before June.
“There’s going to be, you know, a rapid reduction in energy prices once we get the Strait open,” Hassett told Fox Business Network.
“Once the energy prices start to come down, don’t forget that that will put downward pressure on inflation and…I think that the outlook for the Fed having the room to cut rates is going to be very solid.”
More than 100 commercial vessels, mostly oil tankers, were passing through the strait each day before the US-Iran war started on February 28, according to data from Kpler. That has reportedly gone down to single digits
