By Molly Schwartz, cross-asset macro strategist at Rabobank
Daily crossings through the Strait of Hormuz increased substantially after the US and Iran announced a “peace” agreement in mid-June. However, those numbers have started to dwindle as the ceasefire—peacefire, shmeasefire—appears increasingly shaky. According to Bloomberg, the Joint Maritime Information Center said that traffic through the Strait remains at “reduced levels,” (around 24% of pre-war transit) even though US-assisted vessel transits have been largely uninhibited.
Originally reported by ZeroHedge News
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