Six months into the Iran war: Markets become accustomed to stalemate with no end in sight

Friday marks six months since the U.S. and Israel launched "major combat operations" in Iran, prompting retaliatory strikes on targets across the Gulf and sparking a new war in the Middle East. What was initially expected to be a weeks-long conflict has evolved into a standoff that geopolitical analysts say has no end in sight. But the nature of the war has also shifted, with the White House turning its focus to ramping up financial pressure on Iran and its trading partners, a strategy President Donald Trump labeled "economic D-Day."But the conflict's trajectory remains deeply uncertain. Ships attempting to transit the Strait of Hormuz continue to come under attack, peace talks have seemingly collapsed, and questions hang over whether the Trump administration is willing to extend its planned secondary sanctions to China — one of Iran's biggest trading partners. A White House official told CNBC that the U.S. is now "entering the endgame" of its war. The Iranian government has also been approached for comment. Markets grow accustomed to warOil prices remain volatile amid the ongoing uncertainty. Front-month Brent crude oil futures have gained almost 20% since the war began — but the ...