The U.S. launched the war to curb Iran’s nuclear ambitions, but it’s now fighting a formidable foe for control of the oil-shipping lane.

Iran struck two UAE supertankers and US bases in Bahrain, Kuwait, and Jordan. Here is what the Hormuz escalation means for oil prices and crypto markets.

Commercial shipping has come under attack in the Strait of Hormuz as the US and Iran exchange military action, raising fears the conflict could draw more Gulf states into the…