The Iran war escalated sharply over the weekend. The US and Iran traded fresh attacks after Iranian strikes killed two American service members in Jordan, bringing the US death toll to 16 since the war began in February. Iran said it would no longer follow the interim ceasefire, and its foreign minister called some nuclear demands “unresolvable.” The IRGC Navy halted four vessels in the Strait of Hormuz and repeated that no oil will pass “without coordination and permission.” Brent crude rose near $88 on Friday, its biggest weekly advance since April, and WTI closed the week up about 9% near $81.70.