The Strait of Hormuz is opening for business

The blockage to energy supplies through the Persian Gulf appears to have ended. If it holds, it takes a massive weight off the world economy.Why it matters: The possibility of a prolonged disruption to the supply of crude oil, liquefied natural gas, fertilizer and other commodities looks to be off the table.The Trump administration's strategic move from last weekend — matching Iran's strait blockade for ships that don't pay a toll with a U.S. blockade — seems to have worked, at least for now.The...