Iran has activated its air defenses over eastern Tehran amid heightened military tensions in the region. This activation follows a series of retaliatory strikes by Iran, suggesting an escalation of the ongoing conflict involving Iran, Israel, and the United States. Market movements indicate increased expectations of a full airspace closure by September 30, with a notable rise in YES pricing from 10% to 16.5%. Market participants are closely monitoring statements from the Civil Aviation Organization of Iran and Iranian State Television regarding airspace status.
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