## Market Snapshot
The “Strait of Hormuz traffic returns to normal by July 31” market is currently priced at 56.5% YES, down from 58% a day ago. The market for traffic normalizing by the end of May is at 0.4% YES, reflecting the continued blockade’s impact.
## Key Takeaways
– The continuation of the US blockade appears to suggest a decrease in the likelihood of normal traffic returning by May 31. – Markets suggest that the blockade’s persistence may indicate ongoing military tensions, affecting the July 31 normalization scenario. – The probability of 20 ships transiting the Strait by May 31 appears reduced, consistent with active blockade measures.
## Article Body
