US Iran War Stalls: Strait of Hormuz Closed, Global Markets Reel

We begin tonight with a stunning reversal in foreign policy that has global markets reeling. What the White House dubbed Operation Epic Fury is now being described by critics as an epic fail. In March 2026, President Trump's promised swift victory over Iran has stalled, with reports emerging that the administration is seeking an exit strategy. The Wall Street Journal reveals the US is now willing to leave the Strait of Hormuz, a critical global oil choke point, closed. A major concession from the original demand for Iran's unconditional surrender. The evidence of a failed military objective is stark. Despite claims that Iran's military was utterly demolished, the US Navy cannot guarantee safe passage through the strait. This closure has sent oil prices soaring, threatening global economic stability. The conflict has entered a costly stalemate, with at least 13 American service members dead and over 200 wounded. Originally promised as a four-week operation, the Pentagon is now reportedly preparing for a conflict that could last through September. The human and economic toll is mounting. The closed strait handles roughly 20% of the world's oil, directly impacting energy and food prices for families worldwide. Meanwhile, Iran's strategic position appears strengthened, backed ...