Gas prices decline by 5% within 3 months if Strait of Hormuz reopens by end of 2027

Senate Majority Leader Thune stated that reopening the Strait of Hormuz would be the 'best thing' for gas prices. If geopolitical tensions ease, global oil supply would increase, leading to lower crude prices and reduced gasoline prices in the U.S.

Implied probability (Yes)

55%

Closes

2027-12-31