The death of Ayatollah Khamenei was met with sheer joy in many places in Iran. But in Tehran's Revolution Square, his supporters spoke of their anger and deep shock.
There is a risk of an inflation spike ahead as oil and shipping costs surge due to the vulnerability of attack by Iran since Saturday's military hostilities began.
An Iranian hit could dramatically increase the cost of war to Washington. But a weakened Tehran is running out of time to match its blood-curdling rhetoric with military success.