- The U.S. has stepped up air strikes and threatened broader attacks on Iran, but experts say further escalation is unlikely to force Tehran to change course.
- The conflict is disrupting shipping through the Strait of Hormuz — and Iran may press allies to threaten the Red Sea route too — sending oil prices and market jitters higher.
- An interim ceasefire has unraveled, complicating diplomacy and raising political pressure on President Trump ahead of the U.S. midterm elections.
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