The United States and Iran remain deadlocked over reopening the strategic Strait of Hormuz oil shipping lane. While Tehran claims to have shut down this critical passage, the Trump administration says nearly 9 million barrels per day continue flowing out, including roughly 8 million through a southern corridor protected by U.S. military assets. Energy Secretary Chris Wright estimates total flows at about 15 million barrels per day when combining maritime shipments with pipeline exports, compared to 20 million daily before the conflict. Crude prices have nonetheless declined since spiking when the ceasefire collapsed, and Treasury Secretary Scott Bessent is warning Iran of unprecedented economic isolation.
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