IEA: Reopening Strait of Hormuz Will Ease Worst Global Crude Oil Shock in History

April 15, 2026–Written by Daniel Graeber for IIR News Intelligence (Sugar Land, Texas)–Resuming waterborne traffic through the Strait of Hormuz is essential to easing the pressures from the worst oil shock in history, the International Energy Agency said. According to Industrial Info Resources data, there are 82 operational Petroleum Refining facilities across the Middle East.