Strait of Hormuz traffic normal by July 31Iran has blocked the Strait of Hormuz, according to reports from Ynetnews, following weeks of strikes that failed to achieve central objectives. This development marks a significant escalation in the ongoing U.S.–Iran conflict, where control over this critical maritime route has been fiercely contested. The closure of the strait, a vital chokepoint for global oil shipments, could have far-reaching economic and geopolitical consequences. AdvertisementKey TakeawaysThe closure of the Strait of Hormuz by Iran suggests a significant escalation, likely decreasing the chances of maritime traffic normalization by July 31. Additionally, movements in related markets, such as those forecasting a U.S.-Iran ceasefire or changes in military engagement, may provide further insights into potential developments.