Shipping Strikes In Hormuz Leave Both Sides With Economic Pain

By Gerry Doyle

Oct 31, 2026 (Bloomberg) –As US President Donald Trump threatens renewed attacks against Iran, Tehran’s intermittent strikes on commercial vessels have left the two sides locked in a painful economic standoff.

For Iran, the US blockade of its oil exports has snuffed out a key part of its military funding and severely hobbled the $300 billion economy, with only a tiny fraction of the prewar 2 million barrels per day are leaving the country via land routes. 

And for the US, the rising cost of shipping oil through the Strait of Hormuz — even though US Central Command says almost all Iranian