Iran's Foreign Minister just flew home from Pakistan without meeting the U.S. delegation.
No handshake. No framework. No deal.
The diplomatic door just closed.
Here's how fast this collapsed.
Trump said Iran was preparing an offer.
Iran said it never asked for talks.
Pakistan was the intermediary nobody admitted to using.
Araghchi flew to Islamabad as the potential back-channel.
And now he's back in Tehran.
Empty-handed.
Remember what we said from the beginning of this arc:
The civilian negotiators want out.
The IRGC generals want leverage.
Araghchi leaving without a meeting means the generals won again.
Now run the full military posture surrounding this diplomatic failure:
Three U.S. aircraft carriers in the region largest buildup since 2003.
Operation Epic Fury. 15,000 sailors. 200+ aircraft.
Hegseth: "No one sails without U.S. permission."
Iran's top military command threatening "a major reaction."
Diplomacy just exited the building.
And both sides are now armed and talking past each other.
The Dow CEO's warning echoes louder tonight:
275 days of supply chain damage even if it ended today.
It hasn't ended.
Brent crude is watching.
Shipping markets are watching.
China, Japan, India every nation whose energy runs through Hormuz is watching.
The window that was closing all week just shut.
The next move belongs to someone with a uniform, not a briefcase.