Mixed but mostly bad news — the Iran conflict keeps squeezing oil markets, straining Navy crews, and exposing how poorly US weapons are performing.

• Oil markets are tightening again as China restarts heavy oil buying, ending the lull that kept prices from spiking after the Strait of Hormuz was disrupted.
• Ukraine has been hitting Russian oil export ports and the Houthis keep striking Saudi facilities, cutting global supply at the worst time for Trump's plan to keep prices stable.
• The US strategy has shifted from bracing for an imminent price collapse to trying to talk markets down and grind out more time, while planning fresh sanctions to crush Iran's economy.
• Sailors on US carriers like the Lincoln and Tripoli report low food, poor hygiene, weight loss, and a suicide scare, with commands accused of silencing complaints; a replacement carrier is being sent in.
• Defense stocks are falling, not rising, as the war exposes weak US stockpiles — including a quarter of Reaper drones lost — even as Washington plans to spend more on the same weapons.

Outlook: Expect further oil-market stress and likely Iranian escalation, with no quick end to the standoff in sight.