Hassett: Tracking Oil Through Strait of Hormuz

The focus on tracking rather than announcing interdiction or rerouting suggests the US is in an observation phase, weighing escalation risks against market stability. For oil markets, this keeps the threat premium alive without confirming supply loss, meaning volatility may hinge on any shift from monitoring to action. The lack of detailed measures leaves room for speculation, and whether tracking expands into enforcement or remains passive is the key signal to watch for pricing of Gulf crude flows.