Wednesday's picture, pulled together for operators.
The Gulf. The United States reimposed its naval blockade of Iranian ports at 12:01am Gulf time on Wednesday, on the fourth day of its strikes, after declaring last month's memorandum of understanding with Iran collapsed. Iran struck back at the Gulf states: Kuwait reported one ballistic and five cruise missiles plus 33 drones, a navy vessel hit and four sailors wounded, and Bahrain sounded air raid sirens overnight. Hormuz traffic has all but stopped, with just ten verified crossings logged on 13 July.
Second chokepoint. Yemen's Houthis have threatened to close the Bab el-Mandeb Strait if Saudi strikes on Yemen continue, with one official floating a coordinated closure of both Bab el-Mandeb and Hormuz. Plan maritime movements around the risk of two straits shutting at once.
Insurance. The Lloyd's Market Association puts hull war-risk cover for Hormuz transits at around 5 per cent of vessel value as the market norm, up from roughly 2 per cent during last month's brief thaw and down from a peak near 10 per cent earlier in the conflict. It describes premium levels as highly uncertain given the volatility.
Compliance. OFAC's General License X1 winds down the short-lived Iranian oil authorisation. The window shuts at 12:01am Eastern on Friday 17 July, no new transactions are allowed, and firms are told not to expect an extension.
Sahel and Caribbean. JNIM's fuel siege on Bamako is squeezing Mali and its neighbours' ports, with fuel now moving only in guarded convoys. And Haiti goes back to the Security Council this month with its Gang Suppression Force still around 1,000 of an authorised 5,550, and BINUH recording more than 1,600 people killed in the first quarter of the year.
Check the desks for the detail and the sources.
