US Navy breaks Hormuz blockade — war insurance still costs 10% of vessel value
Two months into the Iran conflict, the Trump administration sends guided-missile destroyers through the Strait of Hormuz and launches 'Project Freedom'. Two US-flagged merchant ships completed the first successful transit since Iran closed the strait on February 28 — but war insurance premiums remain at 1–10% of vessel value, and the oil market responds nervously.



