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There is no stopping this. Overnight:
- Houthis hit another Saudi oil tanker, making it three in as many days. Demands toll for Bab al-Mandab.
- Saudi bombed Iranian militia in Iraq.
- Iran attacked US forces in Jordan (first time it has struck before provocation).
- Israel attacked the West Bank, Lebanon and Gaza.
- Drone strikes LNG terminal in Egypt.
- Iran and Oman to share outbound Hormuz toll. Iran to control inbound exclusively.
- Bibi cheers it on the White House, saying Iran is close to collapse (yada, yada, yada).
- China arms Iran with MANPADS.
Professor Pape sums it up nicely.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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