Maritime traffic through the Strait of Hormuz has significantly slowed following Iran’s threats of retaliation against U.S. attacks, amid the ongoing 2026 Iran war. U.S. and Israeli military actions have provoked Iranian responses targeting shipping routes in this strategic passage, which handles a substantial portion of global oil and LNG shipments. Shipping companies are reassessing risks as the climate of uncertainty grows, leading to reduced transit through the waterway. Market pricing now indicates a reduced probability of Iran imposing transit fees, with October odds currently at 12.5% YES, down from earlier expectations.
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