Forrest warns, "If you go and attack a country which has had decades of preparation for being attacked, it's not going to be easy... My fear is that its response might be surgical." He implies the conflict has high escalation potential. Iran is a major energy producer and sits on the critical Strait of Hormuz. A protracted or escalating conflict directly threatens global supply of oil, gas, and related minerals, sustaining price volatility and supply fears. The sector is in a highly unstable geopolitical environment where prices and supply chain security can swing dramatically based on military and diplomatic developments. A swift and successful diplomatic ceasefire that reopens the Strait of Hormuz.