UN Secretary-General Antonio Guterres warns the Strait of Hormuz crisis is severely disrupting global markets, affecting energy, transport, manufacturing, and food sectors. The crisis follows US-Israeli strikes on Iran, leading to mutual blockades. The strait, handling about 20% of global oil trade, has seen daily vessel traffic drop by over 95%. Russia and China have vetoed UN enforcement measures.
A prediction market assessing the likelihood of the US lifting the blockade by May 31, 2026, currently prices a 'YES' outcome at 40.5%, down from 44% 24 hours ago.