The global economy is currently staring down the barrel of a maritime "nuclear option" as the conflict in the Middle East spills into the world’s most critical energy artery: the Strait of Hormuz. Following twelve days of escalating hostilities, the Islamic Revolutionary Guard Corps (IRGC) has begun deploying naval mines, a move that threatens to paralyze the $120-per-barrel oil market and trigger a catastrophic spike in global shipping costs.