3 Weeks, No End: War Expands As Costs Mount

Three weeks into the Iran war, the conflict is expanding-not ending. Despite heavy strikes on Iranian military infrastructure, Tehran continues to retaliate, hitting energy targets across Israel and the Gulf. Oil prices are surging, the Strait of Hormuz remains volatile, and global energy markets are under stress. The US is ramping up deployments even as signs of strain emerge-both financially and strategically. From billions in military losses to questions over the F-35's survivability, this war is raising uncomfortable realities for Washington and its allies. With no clear off-ramp and no decisive victory in sight, the biggest question now is: who is really winning-and how long can this continue?