In the ancient contest over the world's most vital waterways, the United States and Iran have entered an eleventh consecutive night of military exchange, and the markets have taken notice. Brent crude reached $92.44 and WTI $85.51 — five-week highs — as the Persian Gulf and Red Sea, two corridors through which much of humanity's energy flows, face simultaneous threats. When the routes that carry civilization's fuel are contested, the price of everything quietly rises, and the question of who controls the sea becomes everyone's concern.
Oil Hits Five-Week High as U.S.-Iran Conflict Threatens Middle East Shipping
Over 30 commercial vessels attacked by Iran in three months; shipping crews and maritime workers face escalating security threats in contested waters.