Iran is exploiting its geographic dominance in the Strait of Hormuz, compelling energy buyers to negotiate safe passage while pressuring the US to secure the waterway's reopening. The narrow channel has become a flashpoint as the conflict enters its third week, with Iran using attacks to create chaos in energy markets in retaliation for US and Israeli strikes. US President Donald Trump is eyeing the strait as a solution to a near-45% oil price surge. Shipowners' fears escalated after three vessels were attacked last week, including a Thai-flagged carrier. Rahul Kapoor of S&P Global Energy states the risk of prolonged disruption is 'undoubtedly significantly higher than at any point in decades.'