How will the resumption of oil flow from Hormuz impact global commodity prices?

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The expected reopening of the Strait of Hormuz is framed as supporting oil and other commodity flows, but no specific global commodity price impact is provided.

A US-Iran memorandum of understanding (MOU) is expected to be signed on June 19, and the deal is described as paving the way for the reopening of the Strait of Hormuz. That reopening would allow the flow of crude oil, liquefied natural gas (LNG), and other commodities including aluminium and urea, but the available information does not spell out how global commodity prices would move. The only price-related effect discussed is that restored oil supplies could contribute to moderate inflation, where global central banks might not pursue further monetary tightening.
The deal timetable and the trade corridor it affects
The US and Iran are expected to sign the MOU on a peace deal on June 19, following improved market sentiment reported on June 15. The reopening of the Strait of Hormuz is presented as the practical outcome that would change cross-border commodity flows through the corridor.
Which commodities are said to benefit from restored flows
The reopening is linked to the flow of crude oil and LNG, along with other commodities such as aluminium and urea. This establishes the set of goods that market participants expect to move more freely if the Strait of Hormuz resumes operations.
What inflation-related channel is discussed, without commodity price specifics
The economist cited notes that anticipation of restoration in oil supplies has improved traders’ and investors’ risk appetite. The discussion then turns to the possibility of moderate inflation, with the view that global central banks would not resort to further monetary tightening, but it does not quantify or directly connect this to changes in global commodity prices.
What is not stated about commodity pricing
While the reopening is expected to support supplies of crude oil, LNG, aluminium, and urea, the information provided does not describe price elasticity for these commodities or any historical example of how Hormuz-related supply changes translated into global price movements. As a result, the direction and magnitude of global commodity price impacts are not specified.

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How will the resumption of oil flow from Hormuz impact global commodity prices?

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