New Delhi, April 14 -- "You don't get what you deserve, you get what you negotiate," as Chester L. Karrass said, highlights that outcomes are shaped more by negotiation than by what one feels entitled to. After negotiations between the US and Iran broke down during the Islamabad talks, US military forces moved to block all ships trying to enter or leave Iranian ports on Monday, escalating tensions and creating a dangerous new standoff. With sufficient warships, a blockade could deter many tankers from attempting to transport oil to and from Iran. But US forces would also need to be ready to board and seize hostile ships that try to break the blockade.

Asian stocks were trading higher, tracking oil, which fell on Tuesday as expectations r...