As conflict between the United States and Iran deepens in the Gulf, the world is being reminded once again how fragile the arteries of global commerce truly are. The effective closure of the Strait of Hormuz — through which so much of humanity's energy flows — has pushed oil above $105 a barrel and sent natural gas prices in the UK to their highest point in years, with bond markets following in kind. What began as a geopolitical confrontation is now pressing itself into the daily lives of ordinary people through heating bills, mortgage rates, and the quiet anxiety of an uncertain winter ahead.