Energy Shots | Iran: Turbulent Truce, Resurgent Risk

In this week's episode, Joseph Majkut, Director of the CSIS Energy Security and Climate Change Program, and Kevin Book, Senior Adviser, looked at how the June 17 Memorandum of Understanding between the United States and Iran is being tested by renewed hostilities. The same ambiguities that made the agreement possible have complicated its implementation, delaying recovery, driving up energy prices, and clouding the outlook for global energy markets.

Energy Shots Graph of the Week

Even as crude prices have fallen to nearly pre-war levels, U.S. retail gasoline prices surrendered less than half their wartime peak gains before conflict resumed in the Strait of Hormuz. With renewed conflict and a precarious new normal for traffic through the Strait, frustrated drivers and political leaders may have to wait even longer for prices at the pump to fall. 

This event is made possible by general funding to CSIS and the CSIS Energy Security and Climate Change Program.