Qatar gas exports halted as Strait of Hormuz remains closed amid conflict

## Market Snapshot

The market for Strait of Hormuz traffic returning to normal by July 31 is currently priced at 42.5% for a YES outcome, down from 44% in the last 24 hours. This reflects concerns over the ongoing blockade affecting regional shipping.

## Key Takeaways

– The New York Times report suggests a severe escalation in the conflict, impacting Qatar’s gas export capabilities. – Pricing in the Strait of Hormuz market indicates a decreased likelihood of traffic normalization by July 31. – The news is not seen as directly impacting markets related to Iran’s airspace closure or agreements with Trump.

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