Iranian Foreign Minister Abbas Araghchi criticized US threats against Iranian ports, claiming they show a lack of commitment to diplomacy. The statement has pushed down odds on the US blockade of the Strait of Hormuz being lifted by May 31, now at 78% YES, down from 90% yesterday.
## Market reaction
The blockade announcement market dropped 5% following Araghchi’s comments. The April 19 lifting odds collapsed to 2.2% YES from 28% over the last 24 hours. Traders are pricing in very little chance of a near-term deal.
## Why it matters
In the Strait of Hormuz traffic normalization market, Araghchi’s comments reinforce the diplomatic impasse, making normal traffic by June less likely. No current odds are available, but sentiment is bearish.
The blockade announcement market trades $9,914 daily in USDC, but moving the odds 5 percentage points requires just $1,419. The market is active but thin enough that modest trades can produce large swings.
## What to watch
Araghchi’s statement reflects entrenched positions on both sides. At 78¢, a YES share pays $1 if the blockade is lifted by May 31, a 1.28x return. The question is whether any diplomatic shift can overcome the current hostility before that deadline.
Watch for CENTCOM updates on mine clearance and any diplomatic overtures from intermediaries like Oman or Pakistan. A change in US military posture or a new round of talks could move these markets quickly.
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Trump Announces Us Blockade Of Hormuz Lifted| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| May 31 | 76% | — | — | Trade → |
| April 19 | 2.2% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| June 30, 2026 | 3.2% | — | — | Trade → |
