Iran's Hormuz leverage is potent but has an expiry date

Iran has demonstrated it can severely disrupt commercial traffic through the Strait of Hormuz, with ship transits and tonnage falling about 96 percent in early August compared with a year earlier. The strait carries nearly 20 million barrels of oil daily, about a quarter of global seaborne trade, plus significant LNG and fertilizer exports. Tehran's leverage is strong now, but prolonged disruption could erode its economic and political power.