Iranian missile likely involved in attack on ship in Strait of Hormuz, South Korea says - Reuters
Geopolitics
South Korea has attributed an attack on a vessel in the Strait of Hormuz to an Iranian missile, raising immediate fears of escalation in one of the world's most critical oil chokepoints. Roughly 20% of global oil supply transits the Strait, so any sustained threat to navigation creates a sharp upside risk premium in crude and lifts tanker rates and defense names.
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↑ LONG+5% target-3% stoptactical / 1-2 weeks
Buy crude proxies USO/XOM and tanker names FRO/INSW on Hormuz escalation — if Iran is directly attributed, the risk premium isn't priced yet.