Strait of Hormuz traffic will not normalize until late 2026: World Bank – SUCH TV

The World Bank has predicted that transportation through the Strait of Hormuz will not return to the levels prior to the US-Israeli aggression against Iran until late 2026.

In its latest report, the top bank further predicted that the average price of global commodities will rise by 16 percent this year.

According to the report, energy prices are likely to increase by 24 percent during the current calendar year, reaching their highest level since Russia’s invasion of Ukraine in 2022.

The World Bank noted that attacks on energy infrastructure and shipping disruptions in the Strait of Hormuz, which handles 35 percent of global seaborne crude oil trade, have caused the largest oil supply shock on record.

The US-Israeli aggression against Iran began on February 28 with airstrikes that assassinated senior Iranian officials and commanders, including Leader of the Islamic Republic Ayatollah Seyyed Ali Khamenei.

The Iranian armed forces responded by launching daily missile and drone operations targeting locations in the Israeli-occupied territories as well as US military bases and assets across the region.

Furthermore, Iran retaliated against the strikes by closing the Strait of Hormuz, which resulted in a significant increase in oil prices and its by-products.

In recent days, Washington has escalated its adventurism in the Persian Gulf and the Strait of Hormuz, where the US military’s presence continues to threaten regional stability and international energy routes.

Iran has repeatedly warned US warships against approaching the strategic waterway, with the Islamic Revolution Guard Corps (IRGC) maintaining firm control and showcasing its advanced asymmetric capabilities through regular missile and drone exercises.