The Iran trap: No peace no war

US defence secretary Pete Hegseth denies Trump's war on Iran has hit a "quagmire", but the reality on the ground tells a different story. With an ongoing stand-off in the Strait of Hormuz and diplomatic efforts yielding little progress, the war appears to have hit a stalemate. 

So what or who decides how this ends? And what does the United Arab Emirates' split from the Organisation of the Petroleum Exporting Countries (OPEC) say about fracturing relations in the Middle East?

Guest: Esfandyar Batmanghelidj, founder and chief executive of the Bourse & Bazaar Foundation think tank