There is a projected timeline for oil flows through the Strait of Hormuz to return to normal within 30 days of a peace deal being signed, though this may be optimistic.

Three different versions of a potential peace deal have been released by the Iranian side, with no official version yet released by Washington.

Liquefied natural gas (LNG) production facilities in Qatar and some oil and gas production facilities in the United Arab Emirates have sustained damage during the recent conflict.

The conflict in the Strait of Hormuz led to a relaxation of sanctions on Russian oil, which allowed Indian refiners to resume purchases.