Iran Says Strait of Hormuz to Remain Closed

A closure of Hormuz is not a shipping story but a repricing event for every asset that carries an energy risk premium, and the fact that Iran is framing it as a standing condition rather than a temporary measure is what gives it weight. The read-through extends well beyond crude: freight, insurance and LNG routing all reprice on chokepoint risk. Whether the closure holds, and how other naval powers respond, is the open question.