Major Japanese petroleum company expects Hormuz crisis to subside in July

Idemitsu Kosan also seeks to secure oil supply from sources outside the Middle East Idemitsu Kosan is one of the few companies that has been able to slip a vessel through the Strait of Hormuz since the U.S. attacked Iran. (Nikkei montage/Source photos by Yuki Nakao and Idemitsu Tanker website) TOKYO — Idemitsu Kosan, one of Japan's largest petroleum companies, expects the Hormuz crisis to begin subsiding in July, with oil prices to fall to pre-crisis levels early next year.

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