Iran, US Harden Positions Amid Strait of Hormuz Standoff; Diplomacy Falters

• Iran formalizes control over the Strait of Hormuz, implementing a 'de facto toll booth' regime for ships.
• US deploys combat forces, including 2,500 Marines and 1,000 paratroopers, to the Mideast region.
• Industry experts report some ships pay in Chinese yuan to pass through the Strait, crucial for 20% of global oil/gas trade.
• US Navy Adm. Brad Cooper claims 92% of Iran's largest ships and two-thirds of its missile/drone facilities destroyed.
• Diplomacy falters as Iran denies talks despite US ceasefire proposals; oil prices surge due to Strait control.