> entire gulf is at risk. Iran can interdict and cause problems from almost anywhere
Sure, but its effect is far more dilute. In the Strait–in particular, around the Musandam Peninsula–it has unique geostrategic leverage.
However dilute the effect is, if they are able to hit a few gas/oil carriers with drones there, nobody is going to use that body of water.
And then what? Find any insurance company that is willing to insure your ship while it tries to travel the Strait. Or the gulf. Twice for each cargo.
'matsup' is correct.
Iran only needs to score 'one point' to win the whole game.
If they can threaten tankers, then the gulf will remain closed, and that's that.
It's really debatable if the US really has the capability to play 'whack a mole' and get all the moles.