A closed Strait of Hormuz was once unthinkable

A fully closed Strait of Hormuz was long seen as unthinkable — and unmanageable if it happened — based on past modeling and interviews with energy experts.Why it matters: That conventional wisdom underscores just how unprecedented today's closure is — and how little playbook exists for what could come next.The intrigue: In at least two major exercises assessing potential oil disruptions — one in 2007 and another in 2022 — energy experts considered a full shutdown of the strait but ultimately did...