YOU FIRE AT OUR SHIPS, YOU LOSE TANKERS

CENTCOM says the IRGC twice tried to hit a US Navy warship with ballistic missiles; the ship evaded both, and the US then destroyed five Iranian crude carriers after ordering their crews off 10AAM Jordan’s army says it destroyed 18 ballistic missiles fired from Iran12GDN US says Iranian tankers destroyed after missile attacks on American warship. Marco Rubio made the rule explicit: every attempt costs Iran tankers, "and I think you'll see that again today" 12GDN US says Iranian tankers destroyed after missile attacks on American warship. Iran fired 20 missiles at Jordan, which says it intercepted 18 10AAM Jordan’s army says it destroyed 18 ballistic missiles fired from Iran, and the IRGC claims hits on two US vessels and eight tankers that nobody has independently confirmed 8TSN Two US Vessels, 8 Tankers Targeted in Strait of Hormuz: IRGC. The US is no longer just blockading Iranian oil, it is removing the fleet that carries it.

Brent touched $100.19, its highest since 24 July, European stocks fell to one-week lows, and bond yields are already at multidecade highs in several major economies 2AJE Brent crude surpasses $100 a barrel as Iran, US escalate attacks. The European Central Bank is expected to raise rates on Thursday, with the Federal Reserve meeting next week 2AJE Brent crude surpasses $100 a barrel as Iran, US escalate attacks. Americans have paid an extra $100.9 billion on fuel since the war began and diesel is at a record $5.90 14CNN Americans are footing a $100 billion energy bill from the Iran war, while UK petrol jumped 5p in a week 3BBC Petrol prices rise by 5p over a week as Iran war sends oil higher. Defence stocks fell too, which tells you markets see this war as a cost, not a boom.

Treasury sanctioned 27 Iranian airlines plus service providers in Turkey, Malaysia, Kazakhstan and the UAE, and is cancelling aviation licences including overflight payments 15CNN US targets Iran’s airline industry as part of pressure campaign. "We're taking the entire aviation sector of the Iranian economy out of the market," an official said 15CNN US targets Iran’s airline industry as part of pressure campaign. Experts think the practical bite is mostly on clandestine procurement, since tourism was already dead. Still, tankers and airlines on the same day is a clear signal of where the pressure campaign is heading.

A new CSIS satellite analysis finds "a clear surge in construction" this year at the granite-buried site near Natanz, believed to be a safe haven for Iran's nuclear programme 7CNN ‘Surge in construction’ at suspected Iranian nuclear site, analysts say, as US considers ways to strike deep underground. The quieter detail: four days before the war started, a Pentagon agency rushed a contract to repair an underground test facility at White Sands for a classified live-fire test, which sources linked to hitting Iran's deepest sites 7CNN ‘Surge in construction’ at suspected Iranian nuclear site, analysts say, as US considers ways to strike deep underground. Both sides have clearly been preparing for this particular fight for a while.

Gideon Sa'ar is closing the British consulate in Jerusalem, pulling UK staff out of the Gaza coordination centre, ending UK training of Palestinian security forces and banning 12 Britons including Jeremy Corbyn 16YNT Israel hits back at UK sanctions, closes Jerusalem consulate. "Whoever acts against Israel, Israel will act against them," he said. Britain had company, with 12 countries pledging settlement trade restrictions, and Sa'ar hinted the others could be next 16YNT Israel hits back at UK sanctions, closes Jerusalem consulate. Make of that what you will, but that is a lot of European capitals to pick a fight with at once.