Iran said the Strait of Hormuz would remain blocked until the United States accepts its conditions, extending a disruption in one of the world's most important oil shipping lanes as formal peace talks remain deadlocked. Vessel-tracking data from Kpler showed only two vessels crossed the strait on Friday and no crude shipments were detected, underscoring the strain on commercial traffic. U.S. President Donald Trump told the American public that higher fuel costs were a necessary consequence of confronting Iran, with domestic gasoline prices up 29% from a year earlier. Market pricing points to lower expectations that the United States will end the Iranian blockade by August 31, 2026, and reduced odds of a U.S.-Iran agreement restoring normal traffic through the strait by the end of August. The next few weeks are seen as critical, with investors watching negotiations, statements from President Trump and Iranian leaders, and any change in regional military or naval activity for signs of either a diplomatic breakthrough or a prolonged standoff.