Following the U.S.–Iran ceasefire and partial reopening of the Strait of Hormuz, energy flows may resume, but uncertainty persists. Robin Mills, CEO of Qamar Energy, and Amit Bhandari, Senior Fellow on Energy, Investments and Connectivity, Gateway House, note that Iran will retain leverage and will continue influencing prices and supply chains. Natural gas shortages will further disrupt fertiliser production and fuel inflation world-wide.