Strait Outta Commission: Global Oil Markets Brace for Turbulence
The Strait of Hormuz, a critical artery for the world’s energy supply, has effectively ground to a halt. Iranian forces have shuttered the passage to most commercial traffic, leading to a staggering 90 percent drop in ship movement over recent days. International shipping firms, fearing the prospect of Iranian attacks, have abandoned the route entirely. This strategic blockade has triggered an immediate and volatile spike in global oil prices, forcing the White House to scramble for a response as the geopolitical temperature rises toward a breaking point.
In a recent post on Truth Social, President Donald Trump issued a blunt ultimatum to global powers including China, France, Japan, South Korea, and the U.K., urging them to deploy naval assets to clear the strait. “In the meantime, the United States will be bombing the hell out of the shoreline, and continually shooting Iranian Boats and Ships out of the water,” Trump declared, promising to keep the passage “OPEN, SAFE, and FREE!”
So far, the call for coalition support has landed on deaf ears, with allies expressing reluctance to join the fray.
Domestic political headwinds are mounting as well, with American public opinion on the conflict proving increasingly fractured. As the administration leans into a sustained bombing campaign, the potential for rising fuel costs threatens to complicate the GOP’s path toward the midterms. Reports suggest the administration is targeting the regime following strikes on the late Ayatollah Ali Khamenei, though the regional fallout remains unpredictable. Meanwhile, the administration is facing internal dissent, most notably from commentator Tucker Carlson, who alleges the CIA is monitoring his communications and exploring criminal referrals regarding his anti-war stance.
Amidst this backdrop of high-stakes tension, we mourn the loss of Brian Doherty, an esteemed voice in libertarian journalism who passed away unexpectedly at 57. A dedicated chronicler of the movement for over three decades, Doherty was known for his sharp intellect, colorful life, and deep-seated commitment to personal freedom. Whether he was profiling the Free State Project or offering early insights into the rise of Bitcoin, his work was defined by a unique, conscientious perspective. He will be deeply missed by colleagues and readers alike, leaving behind a legacy of integrity and curiosity that remains rare in today’s polarized media landscape.