WorldIran's Grip on Strait of Hormuz Weakens but Costs Remain
Months into the West Asia conflict, Iran's control over the Strait of Hormuz appears to be weakening as oil exports near pre-war levels. Despite easing traffic on this vital trade route, Iran retains the ability to impose costs by threatening unauthorized oil tankers. The Strait, crucial for 20% of global crude oil and LNG, has been a key leverage point against the US since the war began on February 28.
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