Svmuu News Goldman Sachs It is expected that if the 60-day negotiations continue and Iran’s oil exemptions are restored, oil flows through the Persian Gulf will return to normal by the end of July, at which point the Strait of Hormuz will need to handle an additional 6.6 million barrels per day.If negotiations break down, attacks on oil tankers escalate, and the U.S. imposes an embargo on Iranian oil, oil flows in the Persian Gulf could decline further. (Jin Shi)