US Blockade Weakens Iran's Grip on Hormuz

The ongoing conflict in the Strait of Hormuz has entered a new phase as the US blockade and efforts to secure commercial traffic put pressure on Iran.

Former senior US official Brett McGurk wrote in a CNN analysis that Iran is losing leverage gained from disrupting shipping through the strait as a result of the renewed blockade and military exchanges.

The conflict has been ongoing for six months, with Iran targeting commercial shipping and prompting another round of military exchanges since mid-July.

Oil flows through Hormuz have recovered to about two-thirds of pre-war levels, according to Bloomberg reporting, while Iran's economy is contracting by more than 5% this year, with inflation approaching 70% and the rial falling sharply.