New Delhi, April 9 -- The US and Iran on Tuesday (local time) agreed to a two-week ceasefire, a decision that lifted hopes that the complete reopening of the Strait of Hormuz can finally end the energy supply shortage that threatens to cripple the global economy. However, analysts and maritime experts do not expect traffic through this critical waterway to return to normal anytime soon, CNBC reported.

US President Donald Trump announced the ceasefire, but added that it is contingent on the "complete, immediate, and safe opening" of the Strait of Hormuz, which typically carries around one-fifth of the world's oil and gas supplies. The Strait was shut down by Iran's Islamic Revolutionary Guard Corps (IRGC) days after the US and Israel laun...