Rising tensions in the Strait of Hormuz have sparked concerns that Iran may resume a ‘Tanker War’ following U.S. airstrikes on key nuclear sites. The strait, a crucial route for global oil and gas, is seeing increased Iranian military activity, though no final decision to close it has been made. Analysts warn a blockade could trigger a global energy crisis and hurt Iran’s economy. The situation remains volatile as Iran weighs its options amid Western pressure and the threat of economic consequences.