## Market Snapshot
Strait of Hormuz traffic is currently priced at 0.5% YES for returning to normal by the end of May, down from 1% a day ago. The likelihood of a US-Iran ceasefire extension remains uncertain, with no active sub-market odds currently available.
## Key Takeaways
– Market pricing suggests ongoing maritime conflict is consistent with a decreased likelihood of Strait of Hormuz traffic normalizing by month’s end. – The lack of a concrete ceasefire agreement indicates continued uncertainty in US-Iran relations, which may affect market expectations for peace. – Persistent strikes on US ships suggest heightened risk in the region, impacting predictions for shipping activity and ceasefire extensions.
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