The US-Iran fight is widening fast, with strikes on both sides, oil pushing toward $100, and no side positioned to win.

• The US destroyed five Iranian oil tankers, and Iran fired ballistic missiles at a US air base in Jordan, most of them intercepted.
• Oil is near $100 and heading higher, which means more expensive food and fuel for people already stretched thin.
• The trade war is widening too, with new US bans on Canadian goods including alcohol and motorcycles.
• Allies are hanging back: South Korea is offering inspectors rather than troops, leaving the US financing the war largely alone while borrowing costs climb.
• At home, Trump lost a redistricting fight when Kavanaugh let a block on a Missouri congressional map stand ahead of the midterms.

Outlook: Expect further escalation, with a possible Iranian move to shut the Strait of Hormuz that would push oil and the world economy sharply worse.