The United States has struck a tanker that attempted to breach the naval blockade on Iran. The vessel allegedly tried to evade the blockade four times before being targeted by U.S. forces. This incident marks a significant escalation in the ongoing U.S.-Iran conflict over the Strait of Hormuz. Market participants view this escalation as potentially prolonging the conflict and reducing the likelihood of a near-term resolution. Expectations of a blockade end by July 31 have decreased.
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