Iran closed the Strait of Hormuz again on Saturday and fired on ships trying to pass, reversing an earlier reopening in response to the US maintaining its blockade of Iranian ports. This is a major escalation in the ongoing US-Iran conflict — the strait handles roughly 20% of global oil shipping, so closure directly raises energy costs worldwide and threatens supply chains dependent on Middle Eastern crude. What's missing: sources indicate Trump administration officials have indicated they plan to keep the blockade in place until Iran agrees to a "transaction," meaning this standoff could persist through the 2026 summer driving season and beyond.