The Strait of Hormuz is bleeding trade confidence again. Barely a month after Washington and Tehran signed a memorandum of understanding meant to end months of tanker attacks, the truce has come apart.
Both sides are back to trading strikes, and the world's most important oil chokepoint is once more too dangerous for many owners to risk. The tanker attacks have been a major concern for the shipping industry, and the recent escalation of tensions in the region is likely to have a significant impact on global trade.