Severe Escalation
−2.2%
A direct hit on a tanker, naval asset, or port-adjacent loading route triggers a sharper security response and a temporary traffic halt. This is less likely than persistent disruption, but the downside is large because Hormuz remains the main outlet for Gulf crude exports.
What it moves
- Energy+4.7%
- Consumer Services−4.0%
- Riskier companies' borrowing costs
- Market volatility
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