Greg Myrie

And, of course, one possibility would be an operation intended to open the Strait of Hormuz.

Of course, that's the critical choke point for oil in the Gulf that Iran has effectively shut down.

Yeah, it's not going to be easy.

This was a problem that didn't exist when the war began, and Trump hasn't laid out a clear plan to fix it.

Iran has lost most of its conventional military power, but it's still very well positioned to carry out attacks from the rugged coastline with drones or with these fast boats in the Gulf.

and particularly around the Strait of Hormuz, which is just 21 miles wide.

The Gulf has really become a giant parking lot for ships.

There's some 3,000 oil tankers, gas tankers, cargo ships, all stranded according to the UN's shipping agency.

These ships are unwilling to challenge the Iranians.

And the U.S.

Navy only has around 20 ships in the region.

Yeah, Scott, there's been a lot of back and forth, and now a half dozen European and Asian nations have issued a joint statement saying they'll contribute to appropriate efforts to open the Gulf.

But that's pretty vague, and no one is pledging anything tangible like a warship.

I spoke about the Gulf with Daniel Yergin.

He's a longtime expert on the oil industry who's now at S&P Global.

So the Asian countries could be looking at oil shortages.

Now, that shouldn't happen here in the U.S.

because this country is the world's largest oil producer.

But oil is a global commodity, so the prices rise for everyone.

Well, the short answer is yes.