More than six months into the U.S.-Iran war, shipping through the Strait of Hormuz remains disrupted and oil prices are again approaching $100 per barrel. The two sides remain deadlocked as the U.S. blockade and Operation Economic Outcast intensify pressure on Iran’s oil revenues. Meanwhile, flows from other Persian Gulf producers have recovered to about two-thirds of pre-war levels, largely through dark transits and shuttle shipping for ship-to-ship transfers outside the strait. Iran loaded about 260,000 barrels per day for export in August, down 80% from 1.7 million barrels per day in August 2025 and more than half from about 740,000 barrels per day in July 2026. Ship-tracking firms said the cargoes did not necessarily pass the blockade, with estimates putting Iranian flows from the Persian Gulf at zero in August and TankerTrackers.com estimating a 100% decline from the January-February 2026 pre-war baseline. U.S. Treasury Secretary Scott Bessent described the campaign as the greatest economic isolation operation in history, while analysts remain divided over whether the pressure will force Tehran to yield. Arash Azizi said the balance of power had shifted somewhat against Iran, but Dennis Ross said Iran had repeatedly demonstrated resilience. Mohsen Rezaei warned that economic warfare would bring a maritime exclusion zone across the Persian Gulf to the blockade perimeter. Gulf officials told the Wall Street Journal that Iran showed little sign of yielding and had increased weapons and intelligence support for the Houthis in Yemen, who have targeted Saudi shipping in the Red Sea and Bab el-Mandeb Strait. The disruption has also contributed to record U.S. diesel prices and gasoline averaging above $4 per gallon during Labor Day weekend. The U.S. Administration says the increase is temporary and justified by its objective of preventing Iran from obtaining a nuclear weapon, while economist Hamad Hussain said the outcome depends on how much economic pain Tehran is willing to bear for its military and geopolitical goals.