Overview
- Commercial traffic through the Strait of Hormuz has thinned to a trickle as repeated attacks, navigation interference and reported mine threats made routine voyages unsafe, with oil recently cited near $126 a barrel.
- U.S. forces deployed mine‑clearing ships and President Donald Trump said the Navy was directed to respond to potential mine‑laying by Iranian vessels, signaling a calibrated security push rather than a declared reopening.
- Iran asserted control over access and, according to reporting, granted selective passage for ships from some countries, leaving the waterway technically open but functionally closed for most operators.
- War‑risk insurers tightened terms for transits, with some cover restricted or withdrawn and crews allowed to refuse sailings, which drove up premiums and pushed many shippers to costlier alternate routes.
- Legal fallout is building as parties weigh force majeure, delay and hardship claims, with JD Supra flagging arbitration risk, strained offtake obligations and financing covenants tied to insurance and schedule requirements.