If the United States assumed, before attacking Iran, that the major oil producer would be reluctant to close the Strait of Hormuz for fear of blocking its own oil exports, it miscalculated.
Traffic through the strait, through which a fifth of the world’s oil output normally flows, has been severely curtailed since the start of the latest Middle East conflict two weeks ago. At least 16 vessels in the region have been struck by drones or other weapons, with Iran claiming responsibility for some of the attacks.
But Iran itself is shipping oil through the strait in almost the same volumes as before the war,