Iran Blockade Sets Up a Test of Which Side Can Endure More Pain
President Trump is trying to choke off the country’s lifeline with a blockade of the Strait of Hormuz. But the Iranians are betting that his tolerance for political pain is limited.
President Trump is trying to choke off the country’s lifeline with a blockade of the Strait of Hormuz. But the Iranians are betting that his tolerance for political pain is limited.
The U.S. had demanded that Iran immediately reopen the strait to all maritime traffic, but Iran said it would do so only after a final peace deal, according to Iranian officials.
The lack of a breakthrough after 21 hours of negotiations leaves the Trump administration facing several unpalatable options.
Our energy reporter Rebecca F. Elliott explains why, even if the flow of energy is restored through the Persian Gulf, it will take months to carry out repairs across dozens of energy sites in the region.
The Irish government said it had called in the army after protesters blocked highways, ports and an oil refinery, causing widespread disruption.
The war with Iran is preventing huge amounts of oil from flowing out of the Persian Gulf, but the prices that many people track don’t fully capture the scale of the disruption.
Investors were in a more sober mood after sharp moves on the previous day.
The first day of a tentative cease-fire had the region on edge.
Analysts said oil and natural gas energy companies would not quickly restore production unless attacks stopped and ships started moving through the Strait of Hormuz.
President Trump knows that even if a cease-fire runs out with no final agreement on the issues dividing Washington and Tehran, the political risk of renewing hostilities is high.