day 35 of the Iran war and the situation is spiraling an F-15E just went down over central Iran today, the first confirmed US fighter jet loss of the conflict. a second plane crashed near the Strait of Hormuz. one pilot recovered, the other is still missing. meanwhile Iran hit Kuwait’s main refinery with drones, struck a gas facility in the UAE, and launched another barrage at Saudi Arabia’s eastern province. Bahrain activated air raid sirens for the second time this week. Brent crude is sitting at $112.42, up $34 from a year ago. strait traffic has collapsed from 138 vessels per day to somewhere between 10 and 20, which is a 90% reduction in throughput for a chokepoint that handles 20% of global oil supply. Iran is running a permission based transit system now: Chinese, Russian, Indian, Pakistani, and Filipino flagged ships can pass. everyone else sits and waits. the UK hosted a 40 country summit yesterday to discuss reopening the strait and accomplished exactly nothing. Trump wasn’t even on the call because he says the blocked strait “doesn’t affect the US.” Trump is now threatening to hit Iranian power plants, desalination facilities, and bridges if Iran doesn’t reopen Hormuz by next week. he already struck a medical research institute in Tehran, a Red Crescent warehouse, and a century old bridge near Karaj today. Iran’s military responded by saying the war continues until the US faces “humiliation and surrender.” Pakistan is trying to broker talks. Russia and Turkey called for an immediate ceasefire. nobody is listening to anybody.