On February 28, 2026, the U.S. and Israel attacked Iran to prevent the theocracy from attaining a nuclear weapon after nearly half a century of rising tensions. While the bombing has created a military victory, Iran’s retaliation throughout the region creates economic stress that it hopes will cause the bombing to stop. Iran is doing everything in its power to stop all traffic through the Strait of Hormuz, a narrow seaway through which one-third of the world’s seaborne crude oil flows. Meanwhile, petroleum is not the only commodity flowing through the Strait, as fertilizer shipments have also been affected.
