Abu Dhabi’s national oil company ADNOC reported a significant escalation in maritime threats with 15 vessel attacks in the Strait of Hormuz, attributed to Iranian forces. These attacks, involving missiles and drones, have resulted in casualties. This situation is part of the ongoing U.S.-Israel-Iran conflict affecting the Persian Gulf region, with the UAE’s shipping routes particularly impacted. Prospects for traffic normalization through the strait by September 30 appear highly uncertain, with markets pricing the likelihood of a positive outcome at only 27.5%.
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