Oil News: Crude Oil Futures Pause as Traders Await Trump’s Next Move

Iran Doubles the Chokepoint Risk for Crude

The conflict between Washington and Tehran just opened a second front on global crude supply. Iran’s Revolutionary Guard warned Wednesday that if Iranian exports are blocked, allied Houthi forces could shut down traffic through the Bab el-Mandeb alongside the Strait of Hormuz, putting two critical energy chokepoints at risk at the same time. The U.S. responded by imposing a full naval blockade on all Iranian ports and launching another round of strikes against Iranian military capabilities. Emergency crude reserves have been drawn down to levels not seen in over four decades, and the cushion that absorbed previous supply shocks is nearly gone. Two chokepoints threatened, a depleted reserve, and an escalation that keeps widening.