How many energy crises will it take before we stop betting our economies on a fragile oil market?The U.S. and Israeli war with Iran quickly morphed from a regional conflict into a global energy shock. Oil and gas markets have been volatile since the start of the war, with Brent crude oil prices rising 59 percent since Iran’s effective closure of the Strait of Hormuz, one of the world’s most important energy chokepoints. In the first half of 2025, about one-fifth of the world’s oil and liquified natural gas passed through the strait. Now, five weeks into the conflict, attacks The post The Iran War and the Energy Lesson We Failed to Learn appeared first on War on the Rocks .