The field investigation report by Citrini Research, which sent people to venture into the Strait of Hormuz, provides some unusual perspectives: The Strait of Hormuz is currently "not closed, only charged tolls by IRGC", and the actual traffic volume far exceeds market expectations. They dispatched an analyst named 3 (proficient in four languages including Arabic) with professional equipment (gimbal, recording sunglasses, 150x zoom camera, EPIRB emergency beacon, $15000 in cash, Cuban cigars, Zyn nicotine bags) to the Strait of Hormuz, with the goal of obtaining "alpha" (investment advantage information) that traditional data cannot provide. The Strait of Hormuz is the most critical oil throat in the world, responsible for about 21% of global oil transportation. However, market information is highly chaotic: satellite imagery lags behind, anonymous messages are unreliable, and AIS ship tracking data misses about 50% of actual passage (a large number of "dark fleets" or ships that have closed AIS). Analyst 3's Adventure Experience: Departing from Dubai → observing Fujairah oil port → entering Khasab in Musandam province, Oman. Sign a commitment letter at the border checkpoint stating 'no photography, no news reporting, no intelligence gathering'. Ignoring the armed dissuasion of the Oman Coast Guard, he hired a fast boat without GPS with cash and ventured into the center of the strait, only 18 nautical miles away from the Iranian coast. • Witness firsthand: Iranian Revolutionary Guard Corps (IRGC) patrol boats cruising in the distance, Shahed drones flying overhead, oil tankers drifting but still passing. Highlight moment: Swimming in the strait+smoking a cigar (pure personal adventure). Eventually intercepted and briefly detained by the Oman Coast Guard, the phone was confiscated (later safely returned). Key on-site discoveries: 1. The strait is not "closed" or completely blocked Actual traffic is still ongoing, just entering the "new rule era" dominated by IRGC. Especially in the core waterway between Qeshm Island and Larak Island, Iran actually holds the "right of way", forming a "no man's waterway with a toll" state. 2. IRGC is formulating new traffic rules Prioritize the release of Iran's own or close vessels, and selectively inspect/obstruct other vessels. Law enforcement is ad-hoc (temporary, random), not a one size fits all blockade. 3. The actual traffic volume is much higher than the publicly available data AIS can only see about half of the actual traffic, and a large number of ships adopt "dark AIS" or take concealed routes. Analysts observed on site that the oil tanker is still in normal transit and has not laid mines or completely shut down. 4. Parallel between "hot war" and business/diplomacy On one hand, there are tense conflicts, while on the other hand, there are ongoing negotiations and oil flows among allies, presenting a complex reality in a multipolar world. It mentions investment/market insights Market analysis relying on remote data such as AIS and satellites is severely lagging or distorted, making it easy to misjudge real risks. In the short term, the strait will not be completely closed, but there is always a risk of sudden "throttling", which may trigger drastic fluctuations in oil prices, shipping rerouting, and supply chain shocks. In this era of multipolarity, boots on the ground intelligence is more valuable than remote data.