Just south of the Strait of Hormuz, marine maps show what looks like a traffic jam, dozens of ships clustered near each other. Beyond the strait, in the Persian Gulf, there’s another snarl of maritime traffic. That’s because the Strait of Hormuz—which 20 percent of the world’s oil and natural gas traverses—is now more dangerous than it’s been for decades. That’s already affecting oil prices and global shipping. Even if the conflict ends tomorrow, the knock-on effects will last for years. For