US‑Iran Tensions Lift Greek Market and Spike Ormuz Shipping Insurance

A temporary pause in hostilities between the United States and Iran raised hopes of de‑escalation, pushing oil prices lower and boosting confidence in the Greek equity market. The Athens Stock Exchange index rose 0.82% to 2,521.18 points, with weekly turnover reaching €1.64 billion and notable gains in banking and financial services stocks.

At the same time, war‑risk insurance premiums for vessels transiting the Ormuz Strait have surged sharply. Insurers in London now quote coverage at 7.5%‑15% of a ship’s insured value, meaning a VLCC worth about $130 billion could face an additional premium of $9.8‑$13 billion. The rise follows renewed US‑Iran tensions and Houthi attacks in the Red Sea, increasing the risk of missile strikes, hijackings or other hostile actions and raising overall shipping costs and oil transport prices.