Washington claims victory as oil flows rise, but Iran endures pain and prepares escalation, leaving the war unresolved.
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Oil flows rise but the Iran War Quagmire grinds on, with soaring prices and Iranian defiance blocking any military solution.
Tehran may choose escalation over surrender, betting that Washington’s midterm pressures and its own survival instincts outweigh economic pain.
A fragile U.S.-Iran peace deal attempts to restart massive energy flows through the Strait of Hormuz, face-to-face with extensive wartime infrastructure damage.