It had been what the shortage made possible.… The night the tankers stopped moving, the world didn’t go dark. It flickered. The control room in Tokyo wasn’t designed for silence. Screens usually pulsed with shipping data—lanes through the Strait of Hormuz glowing like arteries. But now, nearly a fifth of the world’s oil flow had stalled in place, suspended between insurance refusals, missile warnings, and political brinkmanship. “Seventeen million barrels per day,” muttered Kisaragi, the senior analyst. “Gone—or worse, uncertain.” Across the room, a younger operator zoomed in on a cluster of idle tankers. “They’re just… waiting.” “They’re not waiting,” Kisaragi said. “They’re pricing risk.” ⸻ Officially, the crisis was under control. Governments announced coordinated releases from strategic petroleum reserves. Headlines praised decisive action. Japan alone prepared tens of millions of barrels for market stabilization, framing...