US Government’s Energy Arm Assumes Strait of Hormuz Will Stay Shut Through Late May

The U.S. Energy Information Administration forecasts the Strait of Hormuz will remain closed through late May, leading to higher U.S. motor fuel prices. Iran’s blockade of the Strait is disrupting global energy markets and raising concerns about fuel shortages worldwide. The U.S. President faces political challenges due to rising fuel prices ahead of midterm elections.