On June 11 local time, US Central Command said the Strait of Hormuz remains open and that US forces have established 'safe corridors' for commercial ships transiting the strait; vessels not violating 'blockade measures' against Iran may use them. The statement said hundreds of ships have transited the strait in the past two months and US forces are deployed to 'defend against Iranian aggression,' adding that Iran does not control the strait. After US airstrikes on multiple sites in southern Iran

FITCH cuts global shipping outlook to Neutral, citing a war-driven surge in tanker freight rates.

DBS Group analyst Radhika Rao says US-Iran tensions will deliver a stagflation shock to the euro area, hitting Europe harder than the US and likely forcing the ECB to tighten earlier. She expects the ECB to lift the deposit rate by 25bp to 2.25% and to keep policy guidance cautious and hawkish; further hikes remain possible in H2 as the ECB adopts a meeting-by-meeting assessment while closely monitoring the prospect of a US-Iran ceasefire and de-escalation. Rao cuts her 2026 euro-area growth forecast to 1.0% and expects inflation to rise.