Omani energy minister expects Hormuz Strait reopening, crisis to be short-lived

Omani Minister of Energy Salim Al-Aufi said on Monday that the Strait of Hormuz will reopen, predicting the current crisis will be short-lived and emphasizing the importance of stability in the medium term.

Al-Aufi stated that Oman remains able to continue oil and gas production, adding that the sharp rise in oil and liquefied natural gas prices is "not sustainable for everyone."

The minister also highlighted the urgent need to diversify export routes and find alternative options to ensure the continued flow of energy exports, according to Reuters.