New Delhi, Oct. 5 -- After months into the West Asia conflict, Iran's hold on the Strait of Hormuz may now be waning, but the Islamic Republic "has not lost the ability to impose costs," an expert said, as reports suggest easing traffic on the key trade route.

The Strait of Hormuz has been no less than a weapon for Iran in its war with the United States. Its chokehold on the Strait since the war began on February 28 has disrupted global energy supplies, driving oil prices to a record high.

Tehran has clung to its leverage by threatening to strike any unauthorised oil tankers that attempt to transit the Strait of Hormuz - a key shipping route through which 20 per cent of the world's crude oil and liquefied natural gas travels.

But now, ...