Crunch time, gentlemen.
Iran is hurt, and has resorted to the last weapon in their arsenal : closing the Strait of Ormuz. Needless to say, as their oil too transits through the Strait as well, it is extremely self-damaging...
It is also self-damaging in the sense that closing the Strait will antagonize a lot of powers : the Gulf Monarchies and the West, for which they couldn't care less, but also their good friend China (this could too create tensions with Russia, who will be a clear winner when oil prices go up... interesting times, as our Chinese friends are used to saying). In the end, this cannot last too long as everybody will be looking away, whatever they previously said, when Iran gets clobbered.
So, can Iran really do it? My bet and hopes are for a Praying Mantis 2.0, but playing devil's advocate, I'll say we'll see how good Iran's - and the so-called Global South's - anti-ship missiles are. They couldn't hope for a better site for a confrontation, given the Strait's restricted waters. If they fail - and free-roaming western warplanes in the region are a good hint it's likely - then we can hope to see Western interests supported for the next few decades.