Does this elimination of the shipping threat make the shipment of oil safer and stops the hike in oil prices?
That is anyone’s guess
The reality is imo the threat and unrest will cause disruptions as ships decide to delay, avoid etc the area if they can afford to. More impact by just the existence of the threat.
Any mention of Iranian submarines??
Partially. China will still have trouble because the straight of Hormuz is so narrow and exposed along Iran’s shores for miles. Iran has tons of missiles that can nail the narrow shipping lane. In fact you could almost do it with field artillery (not quite, but close).
But screw China.
Unfortunately, the report specifically references ships in the Gulf Of Oman, not the Straight of Hormuz. I think that it’s safe to assume that we still have a little work to do to completely wipe out the entire navy, but we are getting there.