A high-seas showdown unfolds in the world’s most dangerous waterway. Iran has seized a Marshall Islands–flagged oil tanker, the Talara, right under the watch of a U.S. MQ-4C drone. The Strait of Hormuz—gateway to 20% of global oil—has once again become a flashpoint. The U.K. calls it “state activity,” while Trump warns of “severe consequences.” Is Tehran testing Washington’s red line? Or is this the opening act of a new Gulf crisis?