Strait of Fire
Strait of Fire: How the Israel–Iran War Is Shattering Global Energy Markets The Strait of Hormuz, the world’s most critical oil chokepoint, sits at the center of the escalating Israel–Iran conflict. The Middle East is once again at the center of global attention. What began as a confrontation between Israel and Iran has rapidly expanded into a broader regional crisis. As of March 10, 2026, the conflict has entered its eleventh day, with the United States now actively involved alongside Israel. The war has already spread beyond traditional battlefields, triggering economic tremors across the world. Long-range missile and drone exchanges between Iran and Israel have expanded the conflict beyond traditional borders. The most immediate shock comes from the closure of the Strait of Hormuz , the narrow waterway that handles roughly one-fifth of the world’s oil supply. Tankers remain stranded in the Gulf, energy prices have surged to levels not seen since the early 20...