Iran may opt to abide by US blockade in hopes of a deal, experts say

Iran may opt to abide by US blockade in hopes of a deal, experts say The US blockade on Iran is a “short-term tool” that could be tested by China and ultimately backfire on the US if energy markets lose their cautious faith in the Trump administration’s willingness to strike a peace deal with Iran. Cutting off Iranian oil shipments should, in theory, lead to a spike in energy prices because Iran was the last country to send oil through the Strait of Hormuz, with exports reaching as high as 1. 5 million barrels per day.