Strait of Hormuz
How America Lost Command of the Commons
The oceans may soon be tolled.
Why Iran Will Escalate
U.S. military strikes and the risk of a quagmire.
Trump’s Least Bad Option in Iran
The logic behind a limited deal.
Can Saudi Arabia Keep Hedging?
The Iran war has altered the Gulf’s balance of power—and the kingdom’s calculus.
Hormuz Is a Warning for the Indo-Pacific
What Hormuz unleashed.
A Test of Wills in Iran
Trump is still underestimating Tehran’s resolve.
Let Iran Defeat Itself
America should end the war but keep up the pressure.
How the War Saved the Iranian Regime
The unintended consequences of the U.S.-Israeli assault.
The New Resource Curse
Critical minerals will scramble geopolitics.
Iran’s New Oil Weapon
How America can protect itself—and the global economy.