Iran is charging tolls of up to $2 million per ship as limited traffic starts to move through the strait.

Even after a cease-fire, Iran is keeping a chokehold on traffic, forcing countries to cut deals that could put them at odds with the U.S.

Israel and Hezbollah continue to trade strikes as Trump tells US media he has asked Netanyahu to be more ‘low-key’ in Lebanon. Follow live news

A fragile ceasefire that’s mostly quieted the skies over the Middle East isn’t giving shippers the nerve to brave the narrow waterway that holds the key to 20% of the world’s oil supply.

Sultan Ahmed Al Jaber demanded a full reopening of the strait, warning that the oil supply disruption will increase if Iran maintains control of the passage.

The Iranian Navy has issued new threats to oil tankers attempting to transit the strait of Hormuz, The Wall Street Journal reported Wednesday.

FOX News reporter Trey Yingst reports Thursday from Tel Aviv that 48 hours before negotiations are planned to begin between the U.S. and Iran in Islamabad, the Strait of Hormuz "appears to be closed" and Iran's president is saying continued Israeli attacks on Hezbollah in Lebanon are a violation of the ceasefire they agreed to.

Trump said the temporary ceasefire is "subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz."