The prolonged standoff between the US and Iran has crippled international oil and gas trade , with the impact likely to linger even if the two sides manage to reach a deal on exporting energy through the Strait of Hormuz . The war has also triggered a reckoning among US allies in Asia — Japan relies on shipments  through the blocked waterway for 93% of the crude oil it consumes, while 70% of the oil and 20% of the natural gas used in South Korea follows the same route. Moreover, the two nations