US, IRAN PREPARE FOR PROTRACTED WAR Iran and the U.S. are reportedly preparing for a potentially prolonged conflict, with little sign of an imminent ceasefire or normalization of Middle East energy flows. Bloomberg reports Tehran remains committed to fighting and has rebuilt missile capabilities, while the WSJ says top White House advisers have warned Trump the war could potentially last through 2029. Brent crude traded above $102, as renewed attacks around Hormuz and Houthi advances near key Red Sea shipping routes intensify energy supply risks.(*Walter Bloomberg)