## Market Snapshot

The market for “Strait of Hormuz Ship Transit” indicates a 56.5% probability of 20 ships transiting the strait by May 31, an increase from 50% yesterday. This reflects a positive trend in ship traffic normalization.

## Key Takeaways

– The report of 25 vessels passing through the Strait of Hormuz with Iranian permission suggests increased transit activity. – Market pricing implies a higher likelihood of achieving the 20-ship threshold, consistent with a YES outcome. – This development may indicate a temporary easing of geopolitical tensions in the region.

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