Nigeria, April 6 -- The war erupting in Iran is no longer a story confined to Tehran's borders. Its shocks have already crossed the Persian Gulf, rattling the wealth, security and confidence of every city from Riyadh to Dubai. Skyscrapers that once symbolized stability now share airspace with missile alerts. Tankers carrying nearly one-fifth of the world's oil pause in the Strait of Hormuz, waiting for a signal that may never come. Gulf states once certain of their wealth, alliances and control are waking to a new reality. Their economies, their borders and the very futures of their societies are now inseparably bound to a crisis they cannot fully contain.

To think the consequences of this conflict will stop at Iran's borders is a dange...