Confirms the blockade will prevent maritime traffic from Iranian ports, targeting the lifeline of the Iranian regime. Notes the market reaction (oil prices soaring) is swift but the impact on Iran requires the blockade to last weeks, not days.

Highlights Iranian threats to close all Gulf ports if their security is threatened, which would escalate the conflict and collapse the ceasefire.

States talks broke down over Iranian nuclear activities. While Iran leaves the door open for more talks, the US side has not confirmed further rounds. The situation is a pause, but up in the air.

Cites experts that expecting a quick deal after decades of hostility was wishful thinking.