Angular tension is an Arnowitt-Deser-Misner charge that contributes a work term to the first law of black hole mechanics when the range of an angular coordinate is varied and leads to a new Smarr formula for stationary black holes. A phase diagram for singly spinning D=5 black holes shows that angular tension resolves the degeneracies between spherical black holes and (dipole) black rings and captures the physics of the black ring balance condition. Angular tension depends on the behavior of the metric at rotational axes and we speculate on its relation to rod/domain structure characterizations of higher-dimensional black holes and black hole uniqueness theorems.