According to the Wall Street Journal, the Islamic Republic of Iran is preparing to expand its military efforts and increase regional attacks. This escalation occurs amid the 2026 Iran war, where Iran has been retaliating against strikes initiated by the United States and Israel. A brief ceasefire in June failed to resolve the conflict, which continues to intensify with Iran aiming to impose further costs on Washington and its allies. Markets are now pricing in a reduced likelihood of a U.S.-Iran deal in 2026, as well as a normalization of Hormuz Strait traffic by the end of August.
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