US expands Hormuz transit control, but gains come with high costs and uncertainty

The Trump administration is touting increased U.S. control of a southern channel through the Strait of Hormuz, saying tankers are passing and millions of barrels have moved while global oil prices have not spiked. But independent estimates vary and show throughput still far below prewar levels. The operation is resource-intensive, risks Iranian retaliation, and may not meaningfully alleviate global supply pressures or prices, which remain sensitive to Middle East tensions and policy rhetoric.