world π’ Hormuz strait remains risky despite US mine-clearing claims
US President Donald Trump claimed the US Navy cleared all sea mines in the vital Strait of Hormuz on Tuesday. However, Iran's Deputy Foreign Minister stated the strait is still closed, despite an agreement with Oman. Before the conflict, around 130 ships passed daily, moving about one-fifth of global oil and gas. Analysts note that while some lanes might be clear, uncertainty keeps war-risk insurance premiums very high. Shipping companies are reluctant to return to pre-war traffic levels due to this ongoing risk. π’