President Trump has indicated he’s willing to end the U.S. military campaign against Iran, even if the Strait of Hormuz remains largely closed. U.S. officials say Trump wants to achieve key goals, such as crippling Iran’s navy and missile stockpiles, before winding down hostilities. The U.S. would then rely on diplomatic pressure and allies to reopen the strait. Oil prices surged above $100 a barrel, with analysts warning prices could reach $200 if disruptions continue.