Hizbollah and Israel clash, raising concerns over shipping. Strait of Hormuz traffic normalizing by July 31 at 49.5% YES.

Iran closed the Strait of Hormuz after Israeli strikes in Lebanon. Traffic normalization by June 15 at 0.1% YES.

Strait of Hormuz set to reopen amid easing US-Iran tensions. Traffic returns to normal by end of June at 7.5% YES.