Disruptions in the Strait of Hormuz are pushing oil toward $100, threatening fertilizer supplies, semiconductor production, and global inflation

 Elke Scholiers / Getty Images

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The Strait of Hormuz is barely 21 miles wide at its narrowest point, but roughly one-fifth of the world's oil and liquefied natural gas squeezes through it every day. Since the U.S.-Israeli war on Iran began on February 28, shipping through the corridor has slowed to a crawl, and energy markets have reacted accordingly. Global oil prices now sit around $100 a barrel. Gas prices in the U.S. have surged close to $4 a gallon.

But oil is only the beginning of the problem. The strait is also one of the most important corridors for agricultural and industrial commodities in the world, and the disruption is now moving through supply chains most Americans haven't thought about yet but will soon enough if the fighting........

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