Iran
Updated
What it is
Iran is a large oil and gas producer on the Persian Gulf that controls the northern shore of the Strait of Hormuz. It holds about 158 billion barrels of proven oil reserves, ships about 90 percent of its crude from Kharg Island, and sells most of its oil to China.
Why it matters lately
Iran has been at war with the United States and Israel since February 28, 2026, when strikes killed Supreme Leader Ali Khamenei, and his son Mojtaba Khamenei was named successor on March 9. Iran blockaded Hormuz, and an April ceasefire broke down over the summer. On September 5 Iran fired missiles at U.S. warships and the U.S. hit three Iranian tankers. In late September Iran said it would not soften its conditions for reopening Hormuz.
Asymmetric Analytics view
Inference (AA): It controls one side of Hormuz and is a party to the 2026 war, so its actions feed the graph's energy, food and liquidity chains.