Standoff escalates after Iran closes Strait of Hormuz over US blockade Iran reversed its deci sion to reopen the Strait of Hormuz and warned that it would continue to block transit through the strait as long as the US blockade of Iranian ports remained in effect. The escalating stand off over the critical choke point threatened to deep en the energy crisis roiling the global economy and push the two countries toward renewed conflict, even as mediators ex pressed confidence that a new deal was within reach. The strait is closed until the US blockade is lift ed, Iran’s Revolutionary Guard navy said Saturday night. Hours earlier, two gunboats from Iran’s Rev olutionary Guard opened fire on a tanker transiting the Strait of Hormuz, the British military’s United Kingdom Maritime Trade Operations centre said. It reported that the tanker and crew were safe, with out identifying the vessel or its destination. Roughly one-fifth of the world’s oil passes through the strait, and further limits would squeeze the already constrained sup ply, driving prices higher once again. Meanwhile, a 10-day truce between Israel and the Iran-backed Hezbollah militant group in Lebanon appeared to be holding