HORMUZ OIL FLOWS SEEN RECOVERING ONLY BY LATE SUMMER Oil traffic through the Strait of Hormuz is unlikely to normalize before late July and may only return to prewar levels by end-September, HSBC says. Delays stem from mine clearance, insurance, storage drawdowns, and restarting production. Saudi Arabia and the UAE may recover faster, while others lag. A partial reopening could cap flows near 60%, keeping global oil markets tight into 2027.(*Walter Bloomberg)