EUROPE HAS scarcely recovered from the effects of its last energy crisis, caused by Russia’s invasion of Ukraine in 2022. The American and Israeli assault on Iran now confronts it with a new one.

Yet the strait has become the focus of the war. Iran has imposed a de facto closure by threatening commercial ships and attacking a few of them. That has blocked roughly 15% of the world’s oil supply, ...

On Kalshi, a prediction market, the odds of the party winning back the House of Representatives in the midterm elections this November have risen from 81.5% before the war to 84.7% today. The odds of ...

The anxiety has been heightened by the opacity of the private-credit market, which has expanded dramatically over the past ...

O VER THE past decade commercial-satellite images have become the lifeblood of open-source intelligence (OSINT), allowing ...

At ground level, though, it becomes apparent that this is Bihar, India’s poorest state and home to some 130m people. It is the preponderance of bicycles that does it. They long ago receded from much ...

By some measures this has been a success. Britain now recycles around 45% of its household waste, up from 5% in 1996. But landfill tax also makes illegal dumps exceedingly profitable. Whoever is ...

Cover Story shares preliminary sketches and documents the—often spirited— debates that lead each week to a design seen by ...

This is Checks and Balance, a weekly, subscriber-only newsletter in which our writers turn their gaze to the latest political developments in America. Sign up to Checks and Balance here. When the war ...

Donald Trump has taken one of the biggest gambles of his presidency. He has started a war against Iran that could reshape the ...

Now Brent is back to where it was on average in the year of Russia’s full-scale invasion of Ukraine. Should Hormuz stay closed for much longer, Russia could reap another “2022-style windfall”—enough ...

Get the latest news and analysis on the war between Israel and Gaza, and the regional implications involving Iran, Lebanon, Iraq and Syria. Stay informed on the conflicts shaping the Middle East and ...