Iran and the US are acting like exes fighting over who controls the strait, except the thing they're fighting over is a fifth of the world's oil supply. Trump says the US has total control over Hormuz and is calling the naval blockade a "wall of steel." Iran says the strait stays shut until its conditions are met. Talks to revive June's ceasefire have gone nowhere, both sides blame each other for breaking it. Brent sitting around ~$88 while the world waits to see who caves first.(Lark Davis)