The US-Iran war is escalating fast, and it is bad news for American forces in the Gulf, for oil supply, and for drivers paying more at the pump.

• Iran says it captured a US unmanned submarine near the Strait of Hormuz, a state-of-the-art machine it can now take apart and copy.
• The US sank three Iranian oil tankers after Iran fired missiles at two American warships, and no US ship was hit.
• Firing only two missiles looks deliberate — a way to test how US ships defend themselves before a bigger attack later.
• Iran has hammered US bases in the region, and Washington is now openly talking about pulling back from the Gulf.
• Gas prices are already up sharply, and sinking tankers only tightens oil supply further.

Outlook: Iran is threatening to hit Gulf oil and gas fields directly, which would send energy prices far higher and push the conflict into a much bigger war before the midterms.