Part 5 of 5. A deal proposal, a blockade and a strike plan were all in the news this week. What each way out of the war did to the tanker owners, refiners, airlines and truckers in this series the last time, and what has changed since.

Part 4 of 5. The fuel shock lands hardest on whoever burns fuel directly and cannot pass the cost on: households heating with oil, farmers at harvest and independent truckers. Big carriers and airlines are passing much of it along.

Part 3 of 5. Some refinery damage will not be repaired until 2027, and analysts now expect the largest refiners to earn about four times their 2025 profits next year. The stocks trade at about twice their 2022 multiples.

Part 2 of 5. The benchmark rate to hire a supertanker hit $1.22 million a day, nearly six times prewar. Owners booked about $155,000, and the stock and charter markets are pricing the boom as temporary.

Part 1 of 5. Crude is crossing the Strait of Hormuz at prewar levels again. Refined fuel is down 81%, Russia and China have pulled diesel off the market, and the refining margin sits near $114 a barrel.