Summary
- Iran said one of its vessels had passed through a naval blockade, signaling that tensions around the Strait of Hormuz are rising again.
- The US is continuing its naval blockade of ships traveling to and from Iranian ports, while Iran is also tightening control over the Strait of Hormuz and imposing transit restrictions.
- Markets say Strait of Hormuz tensions are fueling short-term volatility in international oil prices, global risk assets, and the digital-asset market, including Bitcoin.
Iran claimed one of its vessels had passed through a US naval blockade, raising tensions again between Washington and Tehran over the Strait of Hormuz.
Walter Bloomberg reported on May 18 that Iran’s semi-official Fars News Agency said “an Iranian vessel passed through the US blockade.”
The US is continuing a naval blockade targeting ships traveling to and from Iranian ports. Iran, in response, has tightened control over the Strait of Hormuz and imposed transit restrictions.
Market observers say tensions in the Strait of Hormuz are stoking volatility in international oil prices and global risk assets. The cryptocurrency market, including Bitcoin, has also seen heightened short-term swings as Middle East risks have intensified.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
