CLAVE 1 / 4Iran will block routes in the Strait of Hormuz it deems illegal, citing oil-smuggling by small boats.
CLAVE 2 / 4Gulf crude exports averaged 18.3 million barrels per day in late September—above pre-war levels on 14 days.
CLAVE 3 / 4Daily ship crossings through the strait have collapsed from 125 to 10 since the February war began.
CLAVE 4 / 4US Vice President JD Vance demands nuclear concessions from Tehran in exchange for reopening the waterway.
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