After the ceasefire

BEFORE we break out the champagne and celebrate the reopening of the Strait of Hormuz following the memorandum of understanding (MoU) between the United States and Iran, let us take a good hard look at when things can get back to pre-conflict normal.

Shipping is a good place to start. Up to 700 vessels remain stranded in the Persian Gulf, and this bottleneck could persist for months.