Wars have always targeted the infrastructure of their age. Medieval armies burned granaries. Modern ones target communications and energy installations.
The Iranian regime has been true to historical form. Under attack by the U.S. and Israel, it has been striking back at the oil and gas infrastructure of its Gulf neighbors, and has closed the Strait of Hormuz — the choke point through which a fifth of the world’s oil supply normally flows. The energy markets understand this kind of…

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