The U.S. says it is ending its “inherent resolve” operation in Iraq

But the Pentagon has a quick follow-up: it will still train Iraqis and keep providing intelligence. In plain words—troops may be coming out, but their watchful eyes are not.

Don’t jump to the conclusion that U.S.-Iran talks have taken hold. This looks more like the U.S. changing to a cheaper strategy: it won’t occupy territory, but it can still keep an eye on you.

Iran and the militias think they’ve won, Iraq celebrates sovereignty, but ISIS is still around—who will fill the security vacuum?

The chess game in the Middle East isn’t over; it’s just a change in tactics. $CL $XAU $BTC