The United States has paused major airstrikes against Iran amid concerns that renewed escalation could deplete Patriot interceptors and strain Gulf allies, while officials warn conflict could widen beyond current fronts. Iran has warned it could expand targets in the region, potentially reaching Jordan or Gulf states if Washington resumes attacks. President Trump has signalled readiness to escalate if diplomacy fails, though White House aides and military advisers have pushed back against a broader campaign to preserve ammunition stocks. Iran’s deployment of the Kheibar Shekan ballistic missile highlights the potential for more capable strikes and challenges to defenses. Market indicators show a fragile calm with ongoing diplomacy talks, and observers warn of the risk of spillovers to regional players and the global economy.