Several things have changed over the past month. The global economy is now poised to face another severe slowdown and rising inflation as a result of the Middle East conflict. While the impact on countries may differ in magnitude, the oil supply shock will squeeze economic activity and raise prices significantly.

Airline executives were caught off guard when President Ferdinand Marcos Jr. warned that Philippine carriers may be forced to cut flights—or even ground planes—due to a possible jet fuel shortage tied to the escalating U.S.-Israeli conflict with Iran.

Food, not fuel, may prove the first and most immediate casualty of the Middle East conflict as disruption grips the Strait of Hormuz, a narrow sea lane with an outsized role in feeding the world.

The desert—both in Dubai and Indian Wells—has been kind to Alex Eala.