Macron says France, allies preparing 'defensive' mission to reopen Strait of Hormuz

French President Emmanuel Macron said France and allied partners are preparing a 'defensive' mission to reopen the Strait of Hormuz after recent disruptions to shipping. The move raises geopolitical risk for oil flows through the chokepoint, likely to increase risk premia in energy markets, shipping insurance and freight rates, and could pressure risk assets while supporting oil prices.

Analysis

French President Emmanuel Macron said France and allied partners are preparing a 'defensive' mission to reopen the Strait of Hormuz after recent disruptions to shipping. The move raises geopolitical risk for oil flows through the chokepoint, likely to increase risk premia in energy markets, shipping insurance and freight rates, and could pressure risk assets while supporting oil prices.