NEW YORK (AP) — High oil and gasoline prices and energy supply problems won’t be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday.
It will likely take months before energy companies can resume operations to the point of meeting the world’s demand, according to energy experts. The slow pace of the process of shipping and refining crude oil, and doubts about the security of traveling through the strait mean the effect won’t be seen immediately, they said.
Ships loaded with crude oil have been stranded in the Persian Gulf for more than three months, unable to safely travel through the waterway, through which about a fifth of the world’s oil and gasoline supplies typically traveled before the war began.
“It’s going to take time for people to feel comfortable and for insurance to be in place … particularly to get people on the ground to restart some of these assets,” said Daniel Evans, global head of fuels and refining research at S&P Global Energy.
Still, oil prices slipped early Monday after the deal was announced.
Brent crude, the international standard, was down $3.45 at $83.89 per barrel. U.S. benchmark crude oil lost $4.03 to $80.85 per barrel.
Those prices are still well above the roughly $70 per barrel where oil was trading before the war started.
As the higher prices unwind, ships that have been stranded will have to exit the strait, and then new tankers will have to come in to be loaded, Evans said.
“To bring a ship in, you need to be confident that you’ve got a big enough window of safety to bring it in, load it and move it out,” he added.
Oil tankers also move slowly, he explained. It takes months to travel from the strait to distant countries, deliver the crude oil to a refinery for processing and then arrive at its final destination.
In addition, some producers in the Middle East paused extracting oil from the ground, known as a shut-in, when they ran out of storage space. Restarting those operations can be a slow process.
Countries such as Saudi Arabia and United Arab Emirates, where there are alternate pipelines or routes besides the Strait of Hormuz to deliver oil, may be among the quickest to resume production, said Alan Gelder, senior vice president of refining, chemicals and oil markets at Wood Mackenzie, an analytics firm.
“But places like Iraq could be much more challenged because they’ve had a much bigger shut-in, their fields are more difficult … it may well take about a year before they get back,” he said.
Investment in the energy system, which can take years to see the results, ground to a halt after the strait’s closure, Gelder said. So it will take time for this capital to restart.
Countries that shut in oil production won’t want to restart until they know there is a stable, durable strait, and that a ceasefire will last more than 30 or 60 days, said Daniel Sternoff, senior fellow at the Center on Global Energy Policy at Columbia University.
“We don’t know what open means or what the speed of evacuation of trapped material is going to be,” he said.

For college commencement speakers this year, mentioning how artificial intelligence is changing the job market or the world in general has been a surefire way to get booed. So when Google CEO Sundar Pichai took Stanford University’s graduation stage Sunday morning as the keynote speaker, it was notable he didn’t mention AI at all.
Though the booming technology may seem like a natural fit for graduates of the prestigious university located in the heart of Silicon Valley, Pichai instead spoke about his own life experience. Still, the soft-spoken chief executive didn’t completely escape some backlash.
Around 200 students walked out as Pichai took the stage, and smaller groups in the audience waved banners, blew whistles and waved Palestinian flags before also leaving mid-speech. Pro-Palestinian protesters condemned the company’s ties with the Israeli government, particularly its controversial $1.2 trillion cloud-computing deal with the country in 2021, known as Project Nimbus. The walkouts follow other Stanford commencements over the last three years where students have demonstrated in response to Israel’s war in Gaza and the university’s crackdown on pro-Palestinian demonstrations on campus.
For at least the second year in a row, students walking out on Pichai hosted their own “People’s Commencement.” This year’s event featured activist Mahmoud Khalil as its keynote speaker. U.S. Immigration and Customs Enforcement arrested and detained Khalil for more than 100 days last year, threatening his deportation over his pro-Palestinian activism on Columbia University’s campus in 2024.
After the demonstrations quieted down, Pichai was largely well-received. Stories of his own failures and triumphs from his earlier years, like immigrating to California, dropping his doctorate in favor of a master’s degree, and struggles when he started at Google were greeted with scattered laughter and applause.
One of Pichai’s predecessors, former Google CEO Eric Schmidt, wasn’t received as warmly when he spoke at the University of Arizona commencement last month. Graduates booed when Schmidt said that “AI is going to touch everything,” even “if you don’t care about science.”
In a recent New York Times “Hard Fork” appearance, interviewers asked Pichai what his “boo strategy” would be in light of Schmidt’s snafu. But Pichai took themes of technological advancement in a different route, focusing more broadly on accessibility, including an anecdote about rural women in India using smartphones to learn new trades.

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Sen. Elissa Slotkin (D-Mich.) spoke out Monday against accepting illegal orders, reviving a months-old clash with President Donald Trump after she said his social media attacks over a 90-second video led to threats against her and her family.
Slotkin Says Silence Will Not Protect Critics
Slotkin wrote on X that the dispute began with a November 2025 video she organized with five other Democratic lawmakers with military or intelligence backgrounds. The lawmakers urged service members to refuse illegal orders and honor their oath to the Constitution.
Trump threatened to have me hanged over a 90-second video I made. I’m a sitting United States Senator and spent decades serving this country, and it didn’t matter. Keeping your head down will not keep you safe. Staying quiet will not keep you safe. pic.twitter.com/xFWVcOivMy
— Elissa Slotkin (@ElissaSlotkin) June 8, 2026
Don’t Miss:
“Trump threatened to have me hanged over a 90-second video I made. I’m a sitting United States Senator and spent decades serving this country, and it didn’t matter,” Slotkin wrote. “Keeping your head down will not keep you safe. Staying quiet will not keep you safe.”
The November video, titled “Don’t Give Up the Ship,” featured Slotkin, Sen. Mark Kelly (D-Ariz.) and Rep. Jason Crow (D-Colo.), Chris Deluzio (D-Pa.), Maggie Goodlander (D-N.H.) and Chrissy Houlahan (D-Pa.).
Lawmakers Defend Warning On Illegal Orders
The lawmakers spoke directly to active-duty service members, saying troops faced pressure amid the Trump administration’s domestic deployments and reminding them that they must reject illegal orders.
Trump responded on Truth Social by calling the video “SEDITIOUS BEHAVIOR FROM TRAITORS!!!” He later wrote, “SEDITIOUS BEHAVIOR, punishable by DEATH!” and shared a follower’s post saying, “HANG THEM GEORGE WASHINGTON WOULD !!”
Slotkin later said the remarks triggered bomb threats, swatting incidents involving her family and graphic messages from people saying they wanted to see her executed for treason. Capitol Police placed her under round-the-clock protection.
See Also: Avoid the #1 Investing Mistake: How Your ‘Safe’ Holdings Could Be Costing You Big Time
Federal Inquiry Escalates Political Fight
In January, Slotkin said the Trump administration had opened an investigation into her through the office of U.S. Attorney Jeanine Pirro. The Justice Department has not publicly detailed the inquiry.
Slotkin has defended the video, saying it restated standard military training and protected speech. Critics of the lawmakers say Trump’s posts referred to legal penalties for sedition or treason, not a direct order to harm them.
“This moment isn’t really about me,” Slotkin said in a May 31 social media post. “When the administration is willing to go after a senator this way, it sends a message to every American who might speak up. That should concern people in both parties.”
Separately, Defense Secretary Pete Hegseth moved to censure and retroactively demote Kelly. Kelly sued, alleging unconstitutional retaliation for protected speech.
Image via Shutterstock/ Joey Sussman
Read Next:
Think you’re saving enough for your kids? You might be dangerously off — see why
Building Wealth Across More Than Just the Market
Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That’s why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn’t tied to the fortunes of just one company or industry.
Arrived
Backed by Jeff Bezos, Arrived Homes makes real estate investing accessible with a low barrier to entry. Investors can buy fractional shares of single-family rentals and vacation homes starting with as little as $100. This allows everyday investors to diversify into real estate, collect rental income, and build long-term wealth without needing to manage properties directly.
Immersed
Immersed is building technology for the future of work through spatial computing. Known for its AR/VR productivity platform that enables users to work across multiple virtual screens, the company has grown to more than 1.5 million users worldwide. Immersed is also developing Visor, a lightweight headset designed specifically for professional productivity, positioning the company at the intersection of remote work, extended reality (XR), and next-generation computing.
Vinovest
Fine wine and rare whiskey have historically moved independently of the stock market, making them a compelling alternative asset. Vinovest manages authenticated, insured portfolios of investment-grade wine and whiskey starting at $5,000 — sourcing, storage, and insurance all handled for you.
EnergyX
EnergyX is a clean energy technology company focused on direct lithium extraction and refinery technologies for the lithium-ion battery supply chain. Its proprietary DLE systems are designed to recover lithium from brine resources more efficiently and with less environmental impact, supporting efforts to expand lithium supply for electric vehicles, grid-scale storage, and other battery applications.
FarmTogether
Farmland has historically held its value through market volatility and delivered returns uncorrelated to stocks and bonds. For accredited investors, FarmTogether offers direct access to high-quality U.S. farmland starting at $15,000 — fully managed, with no landlord headaches.
EquityMultiple
For accredited investors looking beyond stocks and bonds, EquityMultiple provides access to vetted commercial real estate deals starting at $5,000, with only ~5% of opportunities passing their due diligence process.
Fundrise
Private real estate and private credit can add income and stability to a stock-heavy portfolio. Fundrise offers access to diversified private real estate and credit strategies through an easy-to-use platform, with professionally managed portfolios designed to generate passive income and long-term growth.
American Hartford Gold
American Hartford Gold is a precious metals dealer that helps clients buy physical gold and silver coins and bars, either for direct delivery or within self-directed precious metals IRAs. The company’s services include gold and silver IRAs, IRA rollovers, and home delivery of bullion, giving investors a way to use tangible metals to diversify portfolios and seek protection against inflation and market volatility.
Mode Mobile
Mode Mobile is changing the way people interact with their phones by letting users earn money from the same apps and activities they already use every day. Instead of platforms keeping all the advertising revenue, Mode Mobile shares a portion back with users who engage with content, play games, and scroll on their devices. Named one of Deloitte’s fastest-growing software companies in North America, the company has built a large beta user base and is scaling a model that turns everyday smartphone usage into a potential income stream.

Charlie Javice, the convicted Frank founder, is reportedly seeking a presidential pardon, with her camp quietly courting people close to the Trump administration, according to the WSJ. So far, her name hasn’t turned up on a formal clemency request list at the Justice Department, it adds.
That list is growing fast. As the administration reportedly weighs handing out roughly 250 pardons this summer to mark America’s 250th birthday, a wave of clemency requests is pouring in from white-collar defendants — including Sam Bankman-Fried.
JPMorgan can’t be pleased by any of this. Last September, Javice was found guilty of fabricating millions of customer accounts to inflate her startup’s value before selling it to the bank for $175 million. She’s now serving more than seven years and is appealing, arguing the case against her was unfair.
The bank may have extra cause for concern given its relationship with President Trump. In early 2021, it closed accounts tied to Trump and his businesses shortly after the January 6 Capitol riot, a move that Trump has since called political “debanking,” suing JPMorgan and CEO Jamie Dimon for $5 billion. (JPMorgan denies any political motive.)
Javice has powerful friends, too, including Apollo’s Marc Rowan, an early Frank investor who testified on her behalf at trial. Rowan has donated to Trump’s campaigns and, since his reelection, has given millions more to Republican congressional groups.

A large group of graduates walked out of Stanford University’s commencement ceremony Sunday moments after Google CEO Sundar Pichai began delivering his keynote address.
Videos circulating on social media showed more than 100 students leaving their seats at Stanford Stadium while chanting, “Free, free Palestine.”
Others could be heard booing and shouting “shame on you” as the tech titan spoke.
The protest was organized by far left radical groups including Students for Justice in Palestine and No Tech for Apartheid. Students for Justice in Palestine calls for ”death to all collaborates”, which grotesquely mimics Hamas’ justification for executing Palestinian collaborators.
They have previously posted images mourning the death of influencers in Gaza who have openly celebrated the Oct. 7 attack on Israel.
Pichai, a Stanford alumnus who earned a master’s degree in materials science and engineering from the university in 1995, had been selected earlier this year as the keynote speaker for Stanford’s 135th commencement ceremony held on June 14.
The protest is the latest chapter in a yearslong controversy surrounding Google’s involvement in Project Nimbus, a $1.2 billion cloud computing contract jointly held with Amazon to provide cloud and artificial intelligence services to the Israeli government.
Critics, including some employees and pro-Palestinian activists, argue the technology could be used by Israel’s military and security agencies in ways that harm Palestinians.
Google has maintained that the contract is for government cloud services and has repeatedly defended its work.
The dispute has already roiled the company internally.
In 2024, Google fired dozens of employees after sit-ins and demonstrations at offices in California and New York protesting Project Nimbus and the company’s ties to Israel.
Sunday’s walkout also comes amid a broader wave of campus unrest and skepticism toward Big Tech at graduation ceremonies this year.
Former Google CEO Eric Schmidt was booed during a commencement address at the University of Arizona earlier this year as students voiced concerns about artificial intelligence and its effect on jobs.
Similar scenes have played out at universities across the country, with graduates increasingly using commencement ceremonies to protest speakers’ corporate ties, AI advocacy and political positions.
Despite the interruptions, Pichai continued his speech, which focused largely on optimism and adapting to change rather than artificial intelligence or geopolitics.
The Google chief acknowledged the uncertainty facing graduates but urged them to choose optimism as they enter a rapidly changing world.