US-Iran Stalemate Fractures Global Alliances and Markets

The US-Iran conflict, now in stalemate after a fragile April ceasefire, disrupts the Strait of Hormuz, propelling oil above $100/bbl and testing alliance cohesion worldwide. This brinkmanship exposes vulnerabilities in energy supply chains, accelerates multipolar realignments, and forces governments to balance security with economic stability. Policymakers face a narrow window to avert systemic shocks amid converging geopolitical tensions.