Iran has resumed military attacks within the Strait of Hormuz, shattering a brief period of relative calm in the world’s most critical oil shipping corridor.
The escalation marks a significant deterioration in security conditions, with state media announcing plans to fully block the strait.
This development follows the suspension of communication between Tehran and Washington through intermediaries, effectively ending diplomatic channels that had helped contain tensions.
The immediate market implication is a sharp repricing of route risk.
Brent crude and tanker equities are under pressure as traders assess the probability of a physical blockade.
The threat to close the strait, through which roughly a fifth of the world’s oil passes, introduces a severe supply-side risk premium.