A recent attack on a commercial vessel near the Strait of Hormuz signals a shift from fears of outright war to prolonged uncertainty. Iran's response suggests a move from threatening a complete blockade to asserting control and demanding recognition for its role in regulating shipping. This highlights a new risk premium in energy markets, focusing on potential disruptions and political conditions for passage rather than outright conflict.

Oil markets wobble as Iran tightens its grip on the Strait of Hormuz

A recent attack on a commercial vessel near the Strait of Hormuz signals a shift from fears of outright war to prolonged uncertainty. Iran's response suggests a move from…