US redirects 100 vessels amid Iran port blockade, impacting Hormuz transit

## Market Snapshot

In the “Average Ships Transiting Strait of Hormuz by End of May” market, current pricing shows 13% YES for 10-20 daily transits, up from 8% a day ago. Meanwhile, the “Strait of Hormuz Ship Transit” market shows 46.5% YES for 20 ships transiting on any day by May 31, slightly down from 46% a day ago.

## Key Takeaways

– The redirection of 100 commercial vessels by US forces appears to impact the likelihood of meeting average transit numbers by May 31. – Market pricing suggests a decrease in the probability of reaching 20 ship transits on any day by the end of May. – Prolonged disruptions may indicate a reduced chance of traffic normalization in the Strait by July 31.

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