A bulk carrier sits anchored as families gather on the last day of Eid at Sultan Qaboos Port in Muscat, Oman, on March 23, 2026. Elke Scholiers/Getty ImagesRestoring Persian Gulf oil production to pre-conflict levels may not happen until 2027.While details have yet to be officially released, the memorandum of understanding between the United States and Iran is nearing completion, signaling a possible end to the three-month-old conflict and a potential return of stability to global energy markets.
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Wednesday, June 17, 2026
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