Iran is using speedboats to maintain a blockade on the Strait of Hormuz, a strategic oil transport corridor. These vessels are deployed by the Iranian Revolutionary Guard Corps (IRGC) Navy amid the ongoing conflict between Iran, the United States and Israel. Market indicators show a reduced likelihood of normalization, with odds of reopening dropping from 10% to 7.5% over the past 24 hours. This aggressive posture contributes to maintaining unfavorable conditions for a near-term reopening of the strait.
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