Strait of Hormuz remains blocked amid US-Iran naval skirmishes

The Strait of Hormuz remains blocked due to ongoing clashes between U.S. and Iranian naval forces, exacerbating instability in the strategic waterway. Markets assess a lower likelihood of Trump announcing the lifting of the Hormuz blockade and a decrease in the probability of 20 or more ships transiting the Strait. Monitoring potential diplomatic engagements and leadership announcements is crucial for understanding market perceptions.