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Within 60 days, if not less than 30 days. Here is one "why." -- Last week on Bloomberg TV, Chevron CEO Mike Wirth warned that despite ongoing peace talks, persistent shipping disruptions and kinetic risks in the Strait of Hormuz remain very real. He emphasized that the global system is structurally tight, citing U.S. distillate and gasoline inventories at their lowest levels since 2003, with zero spare refining capacity to replenish them. Crucially, he noted that even if a diplomatic resolution is reached, independent shipowners and cautious insurers will be deeply hesitant to rush back in, preventing any immediate return to normal supply chains.
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