Oil prices climbed on Tuesday as the Iran-Israel conflict raged with no end in sight, though major oil and gas infrastructure and flows have so far been spared from substantial impact. Brent crude futures gained $2.

Iran has launched waves of missiles at Israel in response to recent airstrikes.

Israel and Iran kept up their attacks, killing and wounding civilians and raising concern among world leaders meeting in Canada this week that the biggest battle between the two old enemies could lead...

The Strait of Hormuz is both a vital passage point and a permanent point of tension. As long as the world depends on Oil from the Persian Gulf, its security will remain a major geostrategic concern. If Iran were to cross the red line, the consequences would not be limited to barrels of Oil, but the global economic balance could be shaken.