How Might the Conflict in the Middle East Play Out? And How Should One Position For It?

The conflict in the Middle East now appears to be a live regional war rather than a contained exchange between the United States, Israel, and Iran. Many news outlets, including Reuters and AP, report that fighting has expanded beyond Iran and Israel, something which leadership in multiples nations in the region, European leadership and NATO leadership has confirmed with attacks tied to Gulf states hosting U.S. forces, and energy disruptions now severe enough that Kuwait has cut production as a precaution while Qatar has declared force majeure on some gas exports. At the same time, the IAEA says it still lacks access needed to verify parts of Iran’s nuclear program.

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