Their drones are cheap easy to conceal, and can keep the straight closed indefinitely. And what other leverage do they have besides them keeping the straight closed?

> And what other leverage do they have besides them keeping the straight closed?

They also have the potential for Houthi involvement - threatening shipping in the Red Sea. In addition the Houthis or Iran themselves are more than capable of disabling Saudi Arabia's Red Sea port - shutting off a major relief valve for gulf oil exports.

In short, Iran has plenty of further escalation options (i.e. leverage). Not to mention the ongoing threat they present to Israel which I believe they are more than capable of increasing. If you doubt that, I would suggest searching for some of Ted Postol's commentary regarding Iran's missile attacks and Israel and the US's ability to defend against them. He is very dubious that they can and that the 80-90% intercept rates are in fact baloney. He does have prior form here - being essentially the only one to question patriot missile effectiveness vs scuds in the Iraq war. He claimed a full order of magnitude less effectiveness than reported (9% I believe) and was proven right.