Two months after the war in Iran started, an ongoing ceasefire has not significantly eased disruptions to a key oil shipping route.
The Strait of Hormuz is a waterway that connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. It is a chokepoint for about 20% of the world's oil shipments and a major point of tension, especially since Iran and the U.S. agreed to a ceasefire.
Iran tightened its grip on control of the strait, and the U.S. has issued a blockade on Iranian ports and ships, slowing traffic to a trickle. It has resulted in higher oil and gas prices across the world.
President Donald Trump had previously given Iran a series of deadlines to open the strait, only to push them back before the ceasefire was reached. It led his critics to sound off in a "TACO" chorus. But with ongoing tensions about the Strait of Hormuz, a new acronym is hitting social media. What does "NACHO" mean?
Live updates: Trump signals Iran blockade could last months as costs of war surge
