Writing for Asia Times, Leon Hadar calls the standoff at the Strait of Hormuz "unwinnable." Both sides have (and are willing to use) the ability to close the straits to shipping, neither is able to genuinely prevent the other from doing so. Ergo, stalemate.
Except, as Hadar notes, Iran cannot tolerate the Strait being closed indefinitely, as doing so means they cannot export significant oil and LNG, with such export being almost their only source of foreign exchange. And our allies pressure the US to get the strait open.
If the US was politically able to continue the blockade semi-indefinitely Iran would eventually overthrow its current leaders as the nation-wide poverty became unsustainable. Our political system doesn't really accommodate such a policy, and Iran knows it.
Therefore, both sides are trying to outlast the other, and because our timetable is fixed and knowable, whereas Iran's is not, the advantage is theirs, unfortunately.