Countries dependent on Gulf oil are already feeling the shortage. Fuel rationing and energy use reduction orders are in effect in many regions, especially the Asian countries that get the bulk of their oil from the Persian Gulf countries.
Currently, experts predict it will take three to six months (or so I heard on CNBC) for oil exports to reach pre-war levels. That time frame starts after the strait is fully reopened.
I think the long-term effect of the Persian Gulf oil shut-in will be countries looking for oil sources less prone to disruption.
This post originally appeared at Investors Alley.