In the ancient calculus of oil and conflict, Monday brought a familiar reckoning: when the arteries of energy are threatened, markets feel the pulse of fear before diplomats can find the words for peace. A cascade of Houthi strikes on Saudi infrastructure, an attack near the Strait of Hormuz, and the collapse of a planned Iran-Gulf diplomatic meeting converged to push WTI and Brent crude past 2% gains, with traders now weighing the possibility that up to 4% of global oil supply hangs in the balance. The world's dependence on a handful of vulnerable chokepoints and pipelines has once again been