Kevin Book

We may be weeks or even months, depending on how long the strait stays closed, from the peak of prices from this crisis.

And then from there, we could be many months longer still for the ships that are trapped to get free, for the facilities that are damaged to be repaired, and for that matter, for the inventories to be replenished before we see something like a price we previously thought as normal.

When inventories are low and you can't get oil out of the ground or out of the strait, you should expect prices to keep rising at least until demand capitulates and starts to contract.