Iran to make Strait of Hormuz restrictions permanent amid US tensions

Iran’s plan to permanently solidify restrictions on the Strait of Hormuz suggests a decreased likelihood of the US lifting its blockade by May 31, 2026, potentially leading to a spike in WTI crude oil prices. The situation escalates regional geopolitical tensions, exacerbated by the 2026 crisis involving the US, Israel, and Iran. The return to normal shipping traffic in the Strait of Hormuz appears less likely.