India, May 4 -- Global energy markets are on edge as the Strait of Hormuz, the world's most critical oil chokepoint, becomes the center of a direct military and diplomatic confrontation. On Monday, the U.S. began implementing "Project Freedom," a strategic initiative led by U.S. Central Command involving guided-missile destroyers, 15,000 service members, and over 100 aircraft to "guide" stranded civilian ships out of the Gulf.

Tehran has responded with a sharp escalation in both rhetoric and maritime activity. Iran's parliamentary National Security Commission warned that any "American interference" in the Strait of Hormuz would be treated as a breach of the truce established on April 7.

The warning followed reports from UK Maritime Tra...