Starting on 28 February 2026, Iran's Revolutionary Guard Corps (IRGC) largely shut down the Strait of Hormuz in retaliation for a U.S.–Israeli air war, stranding about 2,000 ships and causing the largest disruption to world energy supply since the 1970s crisis. The closure drove oil prices past $126 per barrel, marking the steepest monthly surge on record, as roughly 25% of seaborne oil and 20% of global LNG transit this vital chokepoint. A brief ceasefire on 8 April collapsed, leading to a U.S. Navy blockade of Iranian ports (13 April–29 May) while Iran simultaneously blockaded the Gulf, creating what The Guardian called a "dual blockade." After failed talks, President Donald Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding on 17 June to end the conflict, but a subsequent Israel–Hezbollah ceasefire collapsed, and by 8 July the truce had broken down entirely. The crisis forced the U.S. Navy to widen its escorted routes near Oman, signaling a direct challenge to Iran's control, yet the waterway remained highly unstable and dangerous for commercial shipping throughout the summer.