The conflict in Iran is likely to have a lasting impact on global commodities markets, regardless of the timeline for a return to “normal” for the Strait of Hormuz. Countries around the world have realized the risk of being dependent on geopolitically unstable geographies, and countries beholden to the straight are likely to invest heavily in the infrastructure needed to circumvent the strait. This will put additional pressure on already fraught global commodities markets as stockpiling and global supply chain reorientation efforts are undertaken.
