It’s already closed. The threat and the resulting insurance pull is all that’s needed. https://shanakaanslemperera.substack.com/p/actuarial-warfare-how-seven-insurance

Iran can close the straight with like 2 dudes with RPGs.

Trade ships will redirect at even the threat of being met with any confrontation. It is not worth the risk. Iran doesn't need a Navy to do this either. They need a couple dudes with AKs in a speedboat.

For more info. Just look at Yemen's blockade as an example.

Ships aren't gonna risk massive payloads. Insurance won't cover the loss either.

Considering it has signficantly affected oil prices. Yes.

A large amount of ships are currently stuck in the persian gulf. A significant portion of this is because they do not want to take the risk. The threat is enough to be effective but Iran is also enforcing it.

Oil tankers tend to be a pretty risk-averse group. They're not going to risk getting hit and having their multi-million dollar cargo go up in flames, even if the risk of getting hit while transiting the strait is relatively low.

The Straits are 20 miles at the narrowest. they can hit ships with artillery. Plus they also have drones, which they've been using to hit over ten oil tankers since the illegal war began

I've been wondering the same thing.

It's a baller thing to say. But if they've lost air superiority (or even if it's compromised) then it doesn't mean much.

All you have to do is scare the money people.

They don’t need naval assets all they need to do is give the green light to Russian proxies who will lay mines and knock it out of action for years.