US Marines board Iranian-flagged tanker amid rising tensions in Gulf of Oman

## Market Snapshot

In the Strait of Hormuz ship transit market, the likelihood of 20 ships transiting on any day by May 31 is currently priced at 48% YES, up from 40% a day ago. The market for 60 ships transiting by May 31 is priced at 11% YES, up from 6% a day ago.

## Key Takeaways

– The boarding of an Iranian-flagged tanker by US Marines appears to indicate an escalation in blockade enforcement, which could decrease ship transits in the Strait of Hormuz. – Market pricing suggests a decrease in the likelihood of traffic normalization in the Strait of Hormuz by July 31. – The current market sentiment reflects increased tension, potentially impacting ship movements through the Strait of Hormuz during May.

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