Middle East Oil Exports Rebound as Iran’s Chokehold on Hormuz Breaks Down

But it brings a dangerous moment for the U.S. DUBAI—Iran’s ability to choke off oil flowing through the Strait of Hormuz—and use that as leverage in talks with the U.S.—is breaking down, raising the risk it will resort to military escalation to bolster its position. The erosion of Iran’s position comes as the U.S. Navy and Gulf oil producers have become better at fending off or evading Iranian attacks, allowing more tankers to cross the strait. Middle Eastern crude exports rebounded this month to around their highest level since the war began in February, oil data trackers say. Shipments via...