US allies have questioned President Donald Trump’s assertions that the Strait of Hormuz is completely free of mines, warning that residual Iranian mines may still pose a persistent threat to shipping in this strategic waterway. The Strait of Hormuz is a critical maritime passage, and any disruption could have significant global economic implications. This questioning introduces significant uncertainty about the security of this route through which a substantial portion of the world’s oil supply transits. Market participants have observed a slight increase in perceived risk related to maritime traffic in the region by the end of August.
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