Bahrain has reported that it came under attack from Iranian drones, and a tanker was struck while crossing the strategic Strait of Hormuz. This incident marks the latest escalation in the ongoing hostilities involving Iran, the United States, and its regional allies. The attacks come as the conflict enters its third day, following the breakdown of a ceasefire agreement aimed at maintaining maritime traffic through the strait. The assault on the tanker suggests a shift towards direct maritime disruption, raising concerns over potential impacts on global energy flows.
Key Takeaways
Market activity suggests increased confidence in the scenario where Iran successfully targets shipping, with the June 27 market showing a significant rise to 51.5% YES.
The tanker attack appears to lower expectations for a return to normal traffic in the Strait of Hormuz by July 31, with odds decreasing from 56% to 47.5% YES.
The likelihood of 80 ships transiting the strait by June 30 has diminished, with market pricing suggesting a decrease to 5.2% YES.
