LONDON, June 2 (Reuters) - August could mark a tipping point for much higher oil prices if demand picks up and the Iran war supply crisis persists, and it could take up to a year for energy supply chains to recover even after the reopening of the Strait of Hormuz, an executive from Abu Dhabi's state oil company said on Tuesday.

Philippe Khoury, ADNOC's executive vice president for sales and trading, said transit through the strait would remain partial and below pre-war levels as long as uncertainty over peace persists.