Trump searches for an exit strategy in Iran as $100 oil looms over the midterms

**Good morning. On Fortune’s radar today:**

Stock traders rejoiced at the news that President Trump may be searching for a way out of Iran. Oil is still above $100 a barrel, and both Tehran and Wall Street expect American voters to punish Republicans at the midterm elections if this goes on much longer. There is an off-ramp, but it risks making Iran look like the winners, experts say. Suspiciously, a massive set of highly profitable trades in oil and stock futures were placed in New York minutes before Trump announced he wanted Iran to come to the table.
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In Asia there are shortages of jet fuel, toilet paper, and fertilizer.
Morgan Stanley warns of a “chaotic melt toward stagflation.”
Private credit funds have shut the gates on some investors.

Mel Schilling, an Australian psychologist and dating expert who guided couples on the reality program “Married at First Sight,” died ...