A dawn gloom hangs over the pier in Bangsaray, eastern Thailand, as buyers arrive to wait for the first fishing boats to return. But like everyone else relying on the day’s catch they have already lost money to someone else’s war. Thailand’s multibillion-dollar fishing industry has been brought to its knees by the runaway price of diesel, a result of Iran’s throttling of the Strait of Hormuz in response to the US and Israel’s attacks. Half of the kingdom’s vast fishing fleet is already docked,...