Oil Chokepoints Squeeze Central Banks Into Hawkish Corner

The Strait of Hormuz is under fire again — a projectile struck a vessel transiting the critical waterway on Sunday, just a day after Saudi Arabia shuttered its 1,200-kilometer East-West pipeline following a drone strike from Iraq. The pipeline normally carries 4-5 million barrels per day, or roughly 5% of global oil supply, leaving Gulf producers scrambling for alternatives as Brent crude hovers near $100 a barrel.

G-7 Rate Hike Fever...