Consequences of blockade could be far-reaching

Blockading portions of the Strait of Hormuz is likely intended to pressure Iran, which has exported millions of barrels of oil since the war began. Much of it has likely been carried by so-called "dark transits" that evade Western sanctions and oversight.

But the effects will be felt far beyond Iran. The price of Brent crude oil, the international standard, rose 7% to hover around $102 per barrel on Monday. It cost roughly $70 per barrel before the war.

Addressing and working to potentially stave off skyrocketing energy prices are top priorities for British Prime Minister Keir Starmer and French President Emmanuel Macron, who are holding a summit this week to encourage international efforts to unblock the strait and end the conflict.

Macron said in a social media post that the conference will draw together nations prepared to contribute to a "peaceful multinational mission aimed at restoring freedom of navigation in the strait." He stressed that the mission would be "strictly defensive" and "separate from the warring parties to the conflict."