US did not have enough forces in the region to undertake a significant blow to Iran and deal with retaliation, WSJ reports citing sources; instead, Trump held off until "firepower" could be brought forward. Gulf officials still think a strike is likely

• POTUS has not decided whether or not to undertake a military option. Also been advised on various options, incl. cyber and sanctions.
• Gulf officials still think a strike is likely once the US has forces in place.

The report indicates that U.S. military readiness in the region is currently insufficient for a substantial strike against Iran, with concerns about potential retaliation. Gulf officials remain convinced that military action may be imminent once U.S. forces are adequately positioned, which could heighten geopolitical tensions. This situation can influence various markets, particularly energy prices and currencies tied to safe-haven flows, depending on how the situation unfolds.