How long will the global energy crunch last?
High energy prices continue to drive inflation and stoke anger among voters around the world. But with more crude oil flowing through the Strait of Hormuz, and governments releasing more emergency fuel stockpiles, how long will the energy crunch last?
Jim Burkhard, Vice President and Head of Research for Oil Markets, Energy and Mobility at S&P Global, says elevated oil prices are here to stay. "It's the new normal until flows are normalised out of the Strait of Hormuz. There's no replacing the Middle East as a source of supply."
He says damaged infrastructure and high shipping costs are also…
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