Maths behind Hormuz toll: Is paying Iran for transit cheaper than blockade?

Eleven weeks after the start of the Iran war, the Strait of Hormuz has remained closed to naval traffic, bleeding the global economy far beyond the Gulf.

Iran’s Islamic Revolutionary Guard Corps (IRGC) maintains an iron grip over the narrow, strategic waterway, while a corresponding United States naval blockade on Iranian ports has failed to reopen it.

Before the war began, between 120 and...