Hormuz Transits Halted Since Tuesday as US, Iran Clash

Transits through the Strait of Hormuz have been halted since Tuesday due to escalating tensions between the US and Iran. This disruption impacts global oil supply routes, heightening concerns over potential supply shortages and driving up risk premiums in energy markets. The oil market is particularly exposed, as the Strait is a critical chokepoint for approximately 20% of the world's oil supply. Traders will be closely watching for any developments in diplomatic negotiations or military actions that could either escalate or de-escalate the situation, particularly any statements from the US or Iranian officials regarding their next steps.

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