A war the US and Israel started against Iran is going badly for them, and it's dragging up oil prices and risking a nuclear crisis.

• Iran survived the huge opening US-Israeli attack and is now slowly knocking out the missile-defense shield the US built across Gulf countries to protect Israel.
• Bases and radars in Bahrain, Saudi Arabia, Jordan, and Kuwait have been hit, and some US troops have died, making this the most unpopular war in US polling history.
• As that shield falls apart, Israel becomes exposed to direct Iranian missiles — raising the danger that Israel, the region's only nuclear power, uses nuclear weapons.
• Iran's real nuclear program is spread out and mostly intact, so the war may actually push Iran to build a bomb as a deterrent.
• Trump signed a Saudi nuclear deal, then reversed a day later to demand Saudi Arabia recognize Israel first — apparently after pressure from Netanyahu.

Outlook: Trump likely has no way to win and will look for a face-saving exit, but oil damage and casualties will keep growing and the risk of nuclear escalation remains.