Day 103, War back on, Strait closed.

 U.S. ATTACKS IRAN, IRAN STRIKES U.S. BASES

IRAN DECLARES STRAIT CLOSED FOR EVERYONE

Dueling narratives from both sides, the U.S. claims it's strikes are defensive and Iran retaliates, more of the same, but just escalating. Trump claims the U.S. has been sneaking ships through the strait. Imagine sneaking 1000 foot long ships through a 20 mile wide waterway. We can assume the ships going through were with Iranian permission. Iran now states, no ships will be going through until escalation stops.

We can assume that this is going to be the situation for some time and the disruption of the flow of oil out of the gulf will continue. More are speculating that the U.S. actually wants the oil traffic disrupted, hoping, while it may damage Iran, it will cause economic worries for China. While it may hobble consumers in the U.S. it will damage China more and the U.S. will be less impacted than others. It may also increase dependence on U.S. energy and increase U.S. leverage. A sad way of trying to insure the U.S. remains relevant.

All this also takes the focus off of Israel's attacks on Lebanon and it seems there were no more attack by Iran on Israel.

It is amazing that oil prices have been restrained so far, when actual shortages begin that may be much harder to control.

Indications that the stock markets are possibly finally entering a new reality phase, we will see if this will cause another reevaluation of this conflict.

Chaos, instability and uncertainty seem to be outlook for the foreseeable future.