Iran has closed the Strait of Hormuz to oil and gas exports while the US maintains a port blockade as part of the ongoing conflict — both actions are disrupting global energy flows and driving oil prices sharply higher. The post attributes responsibility for consequences to the US, but the framing obscures that Iran initiated the Strait closure while the US is conducting separate blockade operations; economists differ on which action poses the greater economic risk. Strategic petroleum reserves are being depleted to offset shortages, and financial markets are pricing in sustained energy supply constraints through the remainder of 2026.