## Market Snapshot
Strait of Hormuz Normal Traffic market is priced at 5.5% YES, down from 8% over the last 24 hours. The end of May market is effectively at 0% YES, reflecting the improbability of a quick resolution.
## Key Takeaways
– Satellite imagery suggests an oil tanker was hit by an IRGC missile, escalating tensions in the Strait of Hormuz. – The incident appears consistent with decreased likelihood of maritime traffic returning to normal by June 15. – Israeli strikes in Tyre indicate concurrent regional tensions, impacting broader geopolitical stability.
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