International relations, geopolitics, wars, major global shifts
Iranian President Masoud Pezeshkian declared his country is in a "full-scale war" with the US as American strikes hit Bushehr, home to Iran's only nuclear power plant, for the ninth consecutive night.
Iran released an American national amid simultaneous US-Iran military escalation in the Gulf, signaling both sides may want a diplomatic off-ramp. Oil markets and regional shipping remain on alert as the standoff continues.
The US launched new airstrikes on Iran after two American troops were killed in Jordan, bringing the US death toll in the conflict to 16. Iran hit two US bases in Kuwait with kamikaze drones and warned it will shift to full-scale offensive operations if strikes continue.
Iran struck Kuwait, Bahrain, Saudi Arabia, and Jordan on Saturday as the US completed its seventh straight night of strikes on Iranian military targets. Oil prices rose more than 4 percent, and the Strait of Hormuz faces growing disruption risk, threatening global energy supplies.
Finance Minister Muhammad Aurangzeb arrives in Washington Saturday for three days of talks with USTR, the DFC, the Exim Bank, and the IMF on tariffs, market access, and a potential bilateral trade deal.
Brent crude rose to $84.30 and WTI to $79.11 on Friday, with both benchmarks up nearly 12 percent for the week after the US launched six consecutive nights of strikes on Iran. Tehran has told Houthi forces to be ready to shut the Red Sea route if US strikes hit Iranian power infrastructure.
The US launched a sixth consecutive day of airstrikes against Iran on July 19, 2026, saying the attacks aim to further degrade Iranian military capabilities. Sustained strikes near the Strait of Hormuz raise risks for global oil supply and regional stability.
Iran launched fresh attacks on U.S. Gulf facilities on July 18, 2026, the sixth consecutive day of direct military exchanges after last month's ceasefire collapsed. The sustained strikes raise immediate risks for Gulf energy routes and U.S. military installations in the region.
The US military struck an airport, bridges, and a railway station in Iran on Thursday as part of a sixth consecutive night of airstrikes described as targeting Iranian military capabilities. The campaign's expansion to transport infrastructure raises oil market risk and escalation concerns across the region.
US forces completed a seventh straight night of strikes on Iranian military and logistics sites while Iran hit US bases in Kuwait and Jordan. Oil prices surged over four percent as both sides actively disrupted shipping through the Strait of Hormuz, threatening one-fifth of global oil supply.
The US launched a second wave of strikes on Iran's coastal defences and missile sites Thursday, while Iran hit American military installations in Bahrain, Kuwait, and Jordan. Brent crude hit a one-month high of $84.95 as the Strait of Hormuz remained closed, keeping global energy markets on edge.
President Donald Trump declared the U.S.-Iran ceasefire over and the U.S. struck Iran amid threats of a Hormuz Strait blockade. A disruption to the strait, through which roughly 20 percent of global oil supply flows, could send energy prices sharply higher worldwide.
Iran's IRGC has threatened to shut additional global shipping corridors after closing the Strait of Hormuz, as the US reimposed a naval blockade of Iranian ports and launched a seven-hour wave of strikes on Iranian coastal targets.
Trump used a primetime White House address to repeat unsupported claims of Chinese election interference and mass non-citizen voter registration ahead of November's midterms.
US forces struck Iranian military targets near Bandar Abbas and Qeshm Island for a sixth straight night, while Iran attacked US facilities in Bahrain and Kuwait. The Strait of Hormuz remains largely closed to shipping, pushing global energy prices higher as both sides escalate.
Trump dropped a proposed 20 percent Hormuz transit fee hours before it was set to take effect, saying Gulf states will make investment deals with the US instead. Oil rose two percent as US strikes on Iran continued for a third night and regional exchanges escalated across Jordan, Bahrain, and Kuwait.
Brent crude rose 2.3 percent to $85.20 a barrel on Tuesday as the US reimposed a naval blockade of Iran and both sides escalated strikes in the Strait of Hormuz. Tanker traffic through the strait fell to a two-month low, with two UAE vessels hit by Iranian cruise missiles and one Indian crew member killed.
President Trump ordered a third straight night of U.S. strikes on Iran and reinstated a naval blockade of Iranian ports, while proposing new fees for ships transiting the Strait of Hormuz. The moves combine military and economic pressure on Iran and raise immediate risks for global oil prices.
The US struck Iran for a third consecutive night, hitting coastal missile and maritime sites, while Iran's IRGC fired missiles and drones at US military facilities in Bahrain and Jordan. Trump reimposed a blockade on Iranian ports and announced a 20 percent cargo fee on the Strait of Hormuz, effective Tuesday evening.
Oil prices jumped roughly 5% after President Trump posted on social media that the U.S. would be reimbursed for helping ships transit the Strait of Hormuz, signaling a reimposed naval blockade on Iranian oil.