I think the looming oil shock and the fact that there haven't seen a ground invasion have lulled us into a false sense of security that the war with Iran will be brief and self contained. We're now waking up to the possibility this continues to grow and drag in more parties to this conflict
Nicholas GrossmanHouthis firing at Red Sea ships and Saudi Arabia. Iraqi groups fire drones at Saudi Arabia. US and Saudi Arabia bomb PMF/KH targets in Iraq; reportedly kill some IRGC too. Drone attack on a shipping hub in Egypt. Looks like Iran activated its network of militias, unlike in the pre-MOU fighting.