A worsening US-Iran war is driving up oil, gas, and food costs, and an oil shortage could hit crisis levels within weeks — bad news for the US economy and ordinary Americans.

• Iran hit US bases in Kuwait, Bahrain, and Iraq overnight, and the missiles got through despite official claims they were all shot down.
• Iran is done negotiating and believes the longer the war drags on, the more leverage it gains.
• Oil inventories are being drawn down and could run out by mid-July, with prices for gas, diesel, and even clothing set to jump.
• Most Americans say the economy has gotten worse and don't expect it to improve.
• Trump is openly clashing with Netanyahu, who is seen as having pulled the US into this fight.

Outlook: Expect more military escalation and a possible panic moment over oil shortages before the end of June.