Saying the Strait of Hormuz is “closed” isn’t totally accurate—it’s messier than that.

Iran’s navy really is telling ships they need official permission to pass. If they try to run it, they’re getting threats. No one’s pretending otherwise.

But it’s not like the strait is locked up tight. Some ships are still getting through, but only after jumping through a lot of hoops—strict coordination, lots of caution. The risk is real.

Then there’s this temporary ceasefire between the U.S. and Iran, which was supposed to mean the strait would reopen. Still, Iran’s military isn’t backing off much. Their control is strong, and nobody’s sailing through like it’s business as usual.

Shipping is way off balance. Plenty of ships are stuck waiting or just steering clear altogether, and big companies aren’t rushing back to normal operations anytime soon.#CZReleasedMemeoir #MorganStanley'sBTCETFSetToLaunch #US&IranAgreedToATwo-weekCeasefire