Trump abruptly canceled a planned attack on Iran, and the on-again, off-again crisis is dragging on the whole world with no real resolution in sight.

• Trump halted the strike at the last minute after phone calls from Saudi Arabia, Qatar, and other Middle East nations, saying he'd reached a vague deal to reopen the Strait of Hormuz and end Iran's nuclear program.
• This is the sixth month of the same cycle — threats, evacuation warnings, then a last-second pullback — and both sides may just be reloading to fight again.
• Gas has already hit $5 a gallon in several states, and US refineries, supply chains, and the strategic oil reserve are all reportedly under strain even as Exxon and Chevron post record profits.
• Capital One says it closed Trump Organization accounts after a money-laundering review — the first time a bank has tied such concerns to the family business.
• Democrats are also bleeding money: big donors like George Soros and Reid Hoffman have given the party nothing this cycle, partly over anger about Gaza, where the death toll keeps climbing.

Outlook: Expect more threats and stalling with no lasting deal, and prices and tensions likely stay high until at least the midterms.