Iran’s chokehold on the Strait of Hormuz has thrown the global economic system into turmoil, yet Israel, which launched attacks on Tehran alongside the United States, has emerged as a rare exception. Since Israel and its US ally started the Middle East war on February 28, economies from Asia to Europe and the US have come under pressure from surging oil and natural gas prices that have driven up fuel and electricity costs. Israel, however, has remained largely insulated from the shock. Central...