US-Iran ceasefire collapses, escalating tensions at the Strait of Hormuz. Fewer than 150 ships transiting the strait priced at 63.3% YES.

US-Iran tensions escalate as Trump ends agreement and military actions increase. Strait of Hormuz traffic normal by August 31 at 22.5% YES.

Iran closes the Strait of Hormuz amid US tensions. Traffic normalization by August 31 at 19.5% YES.