Commentary: The Real Threat of the Iran Conflict Isn’t Oil — It’s Global Liquidity

The military standoff involving Iran has settled into a grinding war of attrition — a cycle of fighting to force negotiations and talking to prepare for the next strike. As of April 2026, the conflict has yielded no clear economic or political victor. Until a new equilibrium of military power and loss tolerance is reached, this low-intensity volatility will likely persist.