Some in Oil, Natural Gas Sector Expected Quick Hormuz Reopening Before ‘Project Freedom’

Natural Gas Intelligence · last updated May 6, 2026 – 5:05 AM

One in five oil and natural gas executives told the Federal Reserve Bank of Dallas they expected the Strait of Hormuz to reopen to normal traffic by May, which is now a possibility after President Trump unveiled Project Freedom to escort vessels out of the Persian Gulf.

Chart showing survey results on Strait of Hormuz traffic recovery expectations, with 39% of respondents forecasting normalization by August 2026, 26% by November 2026, 20% by May 2026, 14% later, highlighting energy market uncertainty, LNG shipping risks.

At a Glance:

Most see Hormuz reopening in August or later
Some executives raise oil price floors
Responses mixed on outlook for US drilling

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