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Story summary
- Iran's consolidation under Mojtaba Khamenei, the new supreme leader, narrows space for U.S. objectives.
- Despite heavy bombardment, Iran remains defiant and says it will dictate the war's end.
- The U.S. administration is pursuing shipping measures, including a $20 billion insurance plan and naval escorts to guard passage via Strait of Hormuz.
- Rising oil prices threaten inflation and voter sentiment, fueling speculation that U.S. President Donald Trump could shift toward de-escalation.
