By Hora Times 
The Strait of Hormuz—chokepoint for 20% of world oil—has been crippled by the US-Iran war since Feb 28, 2026, with tanker traffic collapsing 70-90% from IRGC attacks and threats.
War’s Devastating Shipping Disruptions
Iran sank/struck tankers like Skylight (2 dead), MKD VYOM (1 dead), forcing 150+ vessels (16B liters oil) to anchor outside; daily transits fell from 100+ to near-zero.
US destroyed Iranian minelayers/missiles, claiming threats crippled, but Iran imposed $2M fees, new rules, and closure vows if provoked.
Trump’s Escalation to 5-Day Pause
March 21: Trump issued 48-hour ultimatum—reopen strait or face power plant strikes—with US Navy escorts for tankers.
March 22: After “productive” talks, announced 5-day halt on energy strikes via Truth Social, conditional on negotiations.
March 23 Update: Suspended ultimatum, calling talks “detailed & constructive”; Iran rejects temporary truce, claims Trump “retreated,” demands permanent end.
Pause’s Impact on Shipping & Markets
Limited recovery: 11 tankers (mostly Chinese) crossed under US protection since pause vs. pre-war norms; risks eased temporarily.
Oil prices dipped, insurance fell from 4-6x peaks; Maersk etc. eye Day 3-4 resumption if talks hold—global chains still delayed.
Iran’s rejection threatens re-blockade post-5 days; 150+ stranded tankers wait amid fragile calm.
Why Iran Rejected & Trump’s Response
Iran demands full war end + guarantees/compensation, not “short pause” for renewed attacks; views it as US weakness.
Trump: No ceasefire when “obliterating” foe; pause tests talks, warns consequences—no new escalation yet.