Iran to control internet cables in Strait of Hormuz, raising geopolitical tensions

## Market Snapshot WTI Crude Oil Prices in May 2026 market is priced at 3% YES for hitting $150, down from 6% a week ago. The Strait of Hormuz Ship Transit market shows a 64% YES probability for 20 ships transiting by May 31, down from 69% 24 hours ago.

## Key Takeaways – Pricing suggests that recent developments are consistent with a scenario where WTI Crude Oil does not reach $150 in May. – The Strait of Hormuz Ship Transit market reflects decreased confidence in 20 ships transiting by May 31. – Iran’s move to control internet cables in the Strait of Hormuz may indicate increased geopolitical tensions affecting shipping activity.

## Article Body Iran has announced its intention to take control of seven undersea internet cables in the strategic Strait of Hormuz. This move requires foreign operators to obtain permits and comply with Iranian law, potentially increasing regional tensions. The Strait of Hormuz is a critical maritime passage, connecting Europe, Asia, and the Gulf. Concurrently, reports have emerged of $7 billion in strategically-timed positions against oil prices, placed just before Iran’s major announcements in March and April, suggesting potential insider information. These developments come amidst ongoing geopolitical tensions involving Iran and the United States, with significant implications for global energy markets.

## Market Interpretation Market data suggests a moderate impact on WTI Crude Oil prices, with a 15% expected move, reflecting a scenario where prices remain stable or decrease. The pricing is consistent with a decreased likelihood of WTI hitting $150 due to insider activity. Similarly, the Strait of Hormuz Ship Transit market shows a 20% expected move, indicating decreased confidence in ship transits amidst potential geopolitical disruptions.

## What to Watch Observers should monitor further announcements from Iranian authorities and any response from international stakeholders, including the U.S. government. The impact on global oil prices and shipping logistics could evolve as new details emerge. Additionally, watch for updates from key maritime actors such as the U.S. Navy and insurance companies regarding shipping conditions in the Strait of Hormuz.

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Strait of hormuz ship transit bearish

64% FLAT