Iran's Hormuz blockade erodes but oil market tension persists

Iran has threatened to halt all Middle East oil exports and attack regional energy infrastructure if its own oil exports remain blocked and security is not guaranteed, following the US rejection of a proposal to reopen the Strait of Hormuz. This rhetoric emerges despite confirmed recovery of oil flows through Hormuz to 70-80% of pre-war levels, and Gulf states actively seeking alternative export routes. The threats are largely rhetorical but signal potential for renewed disruption.