President Donald Trump announced that the U.S. Navy has successfully cleared all mines from the Strait of Hormuz, a critical maritime passage for global oil transportation. The mine-clearance operations, initiated in April, targeted mines reportedly laid by Iran’s Islamic Revolutionary Guard Corps. This announcement comes amid ongoing tensions between the United States and Iran, as well as the Israel-Iran conflict. Markets are interpreting the statement as a sign of improved safety in the strait, with prediction market odds on zero ship transits dropping from 23% to 15.4%.
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