EDITOR'S CORNER: Why Oil Prices Are Exploding Because of the Iran War
The conflict in Iran has now stretched nearly two weeks, with casualties mounting among both civilians and regime forces. America’s objectives remain unclear, though former President Trump has suggested goals ranging from regime change to dismantling Iran’s nuclear program—and even targeting its ballistic missile capabilities. The war has already triggered a well-known but deeply concerning consequence: the closure of the Strait of Hormuz. This narrow yet strategically critical waterway, controlled by Iran, is a vital artery for global oil shipments. Fears of missile strikes and drone attacks have made navigating it extremely hazardous, halting maritime traffic indefinitely. In this post, I want to focus on the Strait of Hormuz. Let's look at why it matters, how its closure reverberates across the global oil market, and what it could mean for the future trajectory of the conflict. WHAT AND WHERE IS THE STRAIT OF HORMUZ? The Strait of Hormuz is a narrow but critical waterway in the ...