Amid the war in the Middle East, Iran has been targeting key energy infrastructure across the region. Tehran is also threatening energy exporters, warning that tankers entering the Strait of Hormuz — a narrow, near-irreplaceable artery for Middle Eastern supplies — will come under attack. The strategy of sowing disruption appears to be working: oil and gas prices have surged, major facilities have shut down temporarily after drone strikes, and the Strait of Hormuz has become a “dead zone” for...