The United States is staring a historic “strategic defeat” in the face five months after launching the Iran war at Israel’s behest, according to Middle East observers.The Islamic Republic is unlikely to fully relinquish its new-found hegemony over the Strait of Hormuz, despite US President Donald Trump’s rhetorical mix of daily ultimatums and optimism about a deal, they say. Doing so would be giving up its leverage over the global economy – by far its greatest weapon in a war it cannot win...