US redirects 94 vessels in Strait of Hormuz amid Iran tensions: CENTCOM

## Market Snapshot

The market for average daily transits of the Strait of Hormuz by May 31 is currently pricing 84% YES for 0-10 transits, 8.5% YES for 10-20 transits, and 2.6% YES for 40-60 transits. Recent price movements suggest a reduction in expected transit numbers.

## Key Takeaways

– Market activity suggests that CENTCOM’s redirection of commercial vessels is consistent with a likely decrease in Strait of Hormuz transits. – The impact on the “20 ships transit” market is significant, with a decrease in YES pricing consistent with enforcement of the blockade. – Current pricing indicates market participants view the news as supportive of scenarios with fewer daily transits through the Strait.

## Article Body