Market volatility is rising due to the ongoing conflict in the Strait of Hormuz, impacting investors and causing rapid price fluctuations. The strait, a critical waterway for global oil trade, has been partially closed by Iran, affecting approximately 20% of global oil supplies. ¹ ² ³
*Key Updates:*
- US warships have transited the Strait of Hormuz as part of an operation to clear the waterway of mines laid by Iran
- Iran has agreed to permit a limited number of ships to pass through the strait, with reports suggesting 15 ships per day
- The conflict has led to a significant increase in oil prices, with Brent crude rising over 3%
The situation remains fluid, with ongoing negotiations between the US and Iran aimed at easing tensions. ⁴