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WASHINGTON — The Trump administration is turning the economic screws on Iran to force a war-ending deal, gambling that a country hardened by decades of sanctions can still be coerced into compromise. 

Direct talks over a potential deal to unblock the Strait of Hormuz and constrain Iran’s nuclear program in exchange for US sanctions relief ended in stalemate earlier this month. The Iranians refuse to send a negotiating team for a second round of talks in Islamabad until the United States lifts its blockade. 

In Tehran, the leadership is wagering that Washington will blink first as crude prices surge from roughly $70 a barrel earlier this year to above $120, pushing up the cost of gasoline ahead of the midterm elections. But President Donald Trump, who met with top oil executives at the White House on Tuesday, says he’s preparing for an extended blockade on Iranian ports and ships after a six-week US-Israeli bombing campaign severely weakened Iran's military capabilities but didn't force concessions on its nuclear program.