The Iran war has stalled but not ended, and Netanyahu is pressing Trump to escalate again — bad news for global shipping, oil, and anyone hoping the fighting winds down.

• Netanyahu is visiting Washington to argue that toppling or crippling Iran's government is still the goal, and that Iran must give up its nuclear program either way.
• Trump has paused a planned bombing campaign aimed at Iran's coastal radars, anti-ship missiles, and attack boats after seeing how far US weapons stockpiles have been drawn down.
• The real problem now is the Strait of Hormuz, which has been closed off since the war started and has hurt the global economy.
• There is no military fix for reopening the strait — only a deal, which would mean admitting the war was lost.
• The fighting is spreading: Houthis are going after Saudi ships in the Red Sea, and Ukraine is now hitting Iranian vessels in the Caspian.

Outlook: The pause looks temporary, and pressure from Israel makes another round of strikes likely before any negotiated reopening of the strait.