Oman's Energy Minister says that the Strait of Hormuz is to reopen soon; adds that the the current situation is short-term and that oil prices are not sustainable

The framing here, that the disruption is short-term and prices unsustainable, is a familiar pattern in past episodes of this kind: officials with a direct interest in restoring flows tend to talk the premium down ahead of any confirmed resumption of normal transit, and the market has historically required evidence on the water rather than words, namely tanker tracking data, war-risk insurance quotes, and charter rates, before fully unwinding the premium. The distinction worth drawing is between crude, where alternative routing and strategic stockpiles cushion supply risk, and LNG from the Gulf, where no alternative export route exists and the squeeze on spot cargoes has tended to be sharper and slower to normalise. A reopening announcement typically compresses the front of the crude curve and narrows prompt backwardation first, with options skew and freight rates following only as physical flows are verified. Worth watching is confirmation from shipping and naval sources rather than further ministerial commentary, since in comparable episodes the gap between official reassurance and observable tanker traffic has been the tell.