Market Snapshot
Strait of Hormuz Normal Traffic market currently prices at 0.5% YES, down from 1% a day ago. The market for the United Kingdom sending warships through the Strait by June 30 stands at 9% YES. Traffic normalization by July 31 is at 21.5% YES, having decreased from 30% in the past 24 hours.
Key Takeaways
Iran’s declaration appears to significantly reduce the likelihood of normal traffic through the Strait of Hormuz by June 15, as reflected in the market pricing.
The announcement is consistent with increased chances of countries, such as the UK, sending warships to the region, as indicated by a shift in market odds.
