The fragile ceasefire between the United States and Iran has broken down, and the Middle East is once again on the brink of a much larger conflict. Buck breaks down the latest developments, including Iranian attacks on commercial shipping in the Strait of Hormuz, President Trump's military response, the impact on global oil markets, and what could happen next. He outlines three possible scenarios: a limited exchange followed by renewed negotiations, a sustained U.S. military campaign to pressure Iran, or a broader regional war involving Iran's proxies and Israel.

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