By Admin 
After the renewed war situation between America and Iran in the Middle East and uncertainty over the Strait of Hormuz, the world is facing an energy crisis. At present, ceasefire is going on between Iran and America, but no one has any answer on when oil will start being supplied to the world normally through Hormzu. Meanwhile, Abu Dhabi’s government oil company (ADNOC) has warned on Tuesday (2 June 2026) that oil prices are going to skyrocket in the month of August.
Oil prices may increase from this month
According to the report of Al Arabiya news channel, a senior official of ADNOC warned that if the interruption in oil supply due to Iran war continues and the demand for oil increases worldwide, then oil prices may suddenly increase significantly from the month of August. He also said that even after the reopening of the Strait of Hormuz, it may take up to a year for the energy supply chain to fully recover.
ADNOC’s Executive Vice President of Sales and Trading, Philippe Khouri, said that as long as there is uncertainty about peace, the movement of oil tankers through the Strait of Hormuz will not fully resume. Less oil will be available through this route than before. This means that if the situation does not improve, the prices of petrol and diesel may skyrocket.
Ceasefire appears to be weakening
US President Donald Trump said on Monday (June 1, 2026) that talks with Iran are continuing at a fast pace. The ceasefire seems to be weakening due to fresh attacks from Tehran. However, in the meantime, Trump said in a post on ‘Truth Social’, ‘Negotiations with Iran are continuing at a fast pace.’ The nominal ceasefire between Iran and the US is being repeatedly tested by such retaliatory attacks and counterattacks while officials of both the countries are trying to find a negotiated solution to end the war. However, it is not yet clear how close they are to reaching an agreement and the attack also threatens to derail these talks.
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