How Iran Blocking the Strait of Hormuz Affects the U.S.

President Donald Trump claimed that Iran essentially shutting down the Strait of Hormuz "doesn't really affect" the United States the way it does "other countries." It's true that a small share of U.S. oil imports comes from the Persian Gulf. But the U.S. has been affected by the global increase in the price of oil.

Since the waterway has been effectively closed – significantly reducing crude oil exports from the Persian Gulf region – oil prices have increased by double-digit percentages, which has contributed to a 50-cent-plus spike in the average price of a gallon of gasoline in the U.S.