The Latest: Iran’s attacks on shipping worsen economic concerns as countries tap oil reserves

The ongoing American-Israeli war with Iran, for all its complexity and global effects, boils down to a single question: Who can take the pain the longest? A surge in oil prices points to what may be Iran’s most effective weapon and the United States’ biggest vulnerability in continuing the campaign: Damaging the world economy.

Wednesday’s major developments include Iranian attacks against commercial ships around the Strait of Hormuz and Dubai International Airport, escalating a campaign of squeezing the oil-rich Gulf region as global energy concerns mount.

The U.S. campaign of airstrikes in Iran is now in its 12th day with no end in sight. A U.S. commander says artificial intelligence has helped the military hit more than 5,500 tar...