Iran’s oil is trapped while rivals’ exports from the Persian Gulf are poised to surge, but Tehran could do whatever it takes to break the chokehold | Fortune0

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• August 16, 2026

The U.S. can’t fully reopen the Strait of Hormuz, and Iran can’t stop every ship from transporting oil through narrow waterway. At the same time, the U.S. is preventing Iran from exporting its crude supplies or importing critical goods, while American forces grapple with munitions and readiness issues. The result has been a stalemate where