The Islamic Revolutionary Guard Corps (IRGC) is out delivering a warning to all ships thinking about passing through the Strait of Hormuz amid the latest “cooling period” with the US. They are maintaining that the strait remains in de facto closure for now, adding that “any transit through the waterway will face harsh measures”.

And in taking aim at the US, the IRGC warns that any shipping involving “allies and supporters of the US-Israeli enemies” will be prohibited through any corridor or to any destination.

This comes as Iranian local media also reports that three container ships of “various nationalities” have been turned backed from the strait after warnings from the IRGC.

Come what may, actions speak louder than words.

And the fact of the matter is, Iran is not surrendering any control of the strait and they’re not loosening any restrictions on it either. Sure, they might let a few more vessels pass through in the days before but it really doesn’t mean much when you compare the normal daily traffic flow from before the conflict started.

I’ve shared this over the last few days but it is well worth a reminder. Even with Iran giving Trump a few “presents” in the past week, traffic along the Strait of Hormuz is pretty much dead.

As mentioned earlier, nothing changes for markets until something changes on the Strait of Hormuz. For more context: The can being kicked down the road is not a good thing for markets

This article was written by Justin Low at investinglive.com.