Hormuz, Oil, and the Next Economic Shock.

The Strait of Hormuz has gone from geopolitical pressure point to full-blown migraine. After a U.S. Apache helicopter went down near the Strait and Washington responded with strikes on Iranian targets, markets are once again being reminded that oil doesn't care about politics—it cares about shipping lanes. Iran is threatening closure, the United States is escorting tankers, negotiations somehow remain alive, and the entire world is watching a 21-mile-wide waterway like it's the last exit on the interstate before a hurricane. This week we break down why Hormuz matters, who actually holds leverage, and why reality always sends the invoice.