Oman's Energy Minister: The Strait of Hormuz will remain open; the current situation is most likely only a short-term development.

Oman's Energy Minister said the Strait of Hormuz will remain open, and the current situation is most likely only short-term. He expressed relief that Oman can still continue producing oil and natural gas. The surge in oil and LNG prices is unsustainable for all parties; the situation should stabilize in the medium term. There is a need to diversify export points and identify alternative export options, whether shipping through Oman or through Yemen.