As Operation Epic Fury grinds into its 12th day, the conflict between the United States, Israel, and Iran has metastasized into something far larger than anyone predicted. What began on February 28 as precision strikes against Iran’s nuclear facilities and military infrastructure has now engulfed the entire Persian Gulf region,

Gulf Arab states lobbied hard for the United States to engage in talks with Iran. Yet in the war, 1,800 Iranian missiles and drones have been intercepted in Gulf airspace, with hundreds breaking through.

A longer war with Iran risks disrupting energy flows, unsettling investors, and eroding the Gulf’s reputation for security and stability.

As missiles and drones curtail energy production across the Persian Gulf, analysts warn that water, not oil, may be the resource most at risk in the energy-rich but arid region. O