As the Gulf of Hormuz continues to be closed, oil production is ramping up in other parts of the world, including USA. This may make the straight less important in the long run. USA is now the biggest oil producing country in the world. Since oil is more expensive, US oil companies are making lost of money on the world market. The BBC said that this is one factor pushing up the Stock Market.
I add that this basically lines up with Trump's philosophy which is basically pro big business and pro billionaires. Much of the world, including even in USA, in spite of Trump is gradually transitioning more to cleaner energy. Possibly an unintended consequence of Trump's governance as well.
I heard this on BBC business news from London.
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