The war between the US and Iran is in its fifth month, and last week it escalated from military exchanges into something more dangerous for investors: the use of the world's energy arteries as a weapon. Brent crude has broken above $100 per barrel, its highest in two months, and has risen 40% since the start of July.

The widening U.S.-Iran conflict is increasingly threatening military assets and the world's most important oil shipping routes, raising the risk of a major disruption to global…

The war between the US and Iran is in its fifth month, and last week it escalated from military exchanges into something more dangerous for investors: the use of the world's…