Iran resumes attacks in Strait of Hormuz, US reinstates port blockade

Iran has resumed attacks on vessels in the Strait of Hormuz, prompting the United States to reinstate a blockade of Iranian ports. This escalation comes amidst the ongoing 2026 Iran war, part of the larger U.S.-Iran conflict that has significantly impacted global shipping routes. The Strait of Hormuz remains a critical maritime chokepoint, and the renewed hostilities have further disrupted traffic, complicating diplomatic efforts to restore normal operations. Market responses indicate a decreasing likelihood of the U.S. lifting the blockade by the end of August. Key Takeaways Market pricing suggests a decreased likelihood of the U.S. announcing an end to the Iranian blockade by August 31, 2026, now at 33.5% YES, down from 40% just 24 hours ago. The current geopolitical situation appears consistent with a scenario where the blockade persists, as evidenced by the U.S. naval actions and Iran’s aggressive posture in the region. Short-term market data shows low probabilities for a blockade lift, with sub-markets like August 15, 2026, reflecting a mere 15% YES. What to Watch Key decisions from President Donald Trump and U.S. Central Command could significantly impact market perceptions i...