The United States has resumed aggressive actions against Iran in the wake of recent tensions, according to Press TV. This development comes despite a warning from the Iranian Revolutionary Guard Corps (IRGC) Navy, which declared the Strait of Hormuz “completely closed” to maritime traffic. The escalation follows Iranian attacks on commercial vessels in the strategic waterway, which prompted the U.S. to carry out airstrikes on Iranian military targets. These events mark a significant increase in hostilities and have led to heightened regional tensions.
Key Takeaways
The U.S. actions against Iran appear to have increased the likelihood of a full airspace closure by Iran, with current market pricing supportive of a YES outcome for such a closure by July 31.
Market odds for an airspace closure have risen significantly, with the July 31 sub-market now priced at 23% YES, up from 16% just 24 hours ago.
The IRGC’s warning and the U.S. military response suggest further escalation, making a resolution to the conflict less likely in the immediate future.
