Trump says Iran pleaded with him to call off a massive attack, but the reality looks more like the US losing leverage while Iran negotiates from strength.

• Trump claims Iran and Gulf allies begged him to cancel a huge planned strike; analysts say Iran did the opposite — signaling it was ready to fight to deter him.
• Iran showed it can hit back far from home, striking US ships near Egypt and a base in Jordan that killed three Americans, and still holds most of its missiles.
• The US is running low on Patriot and THAAD interceptors, forcing commanders to prioritize defending the American homeland over Israel.
• Iran and Oman are close to a deal on the Strait of Hormuz that keeps traffic flowing but lets Iran retain the power to close it if attacked again.
• The sticking point is that any workable deal favors Iran's position, which Trump is unwilling to admit or brag about.

Outlook: A Hormuz deal on Iran's terms looks likely soon, after which attention shifts to the harder nuclear question — unless Israel or Ukraine drag the US into wider war.