What happened
The Strait of Hormuz was open before the Iran War began, contrary to claims of a significant US achievement in the region. Despite senior White House officials, including Secretary of State Marco Rubio, emphasizing American successes in keeping the strait open, experts argue that the battle is not yet won.
Iran has recently escalated its attacks on Hormuz shipping, striking a dozen vessels and causing at least one ship to turn back. This escalation has vindicated Middle East experts who have offered a less optimistic assessment of the situation. The US is spending an estimated $42 million per day to enforce its blockade on Iranian maritime exports and provide support for other countries to move their oil through the waterway.
The cost of the conflict is not limited to US government spending, as the price of Brent crude has risen to around $100 per barrel, up from $70 before the war. Experts suggest that this increase is due to the risk posed by Iran's continued attacks, which the US has been unable to prevent. The high prices are needed to incentivize ships to brave the sea passage, and the situation is further complicated by a shortage of diesel shipments.
