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US launches new strikes against Iran
US launches new strikes against Iran
Washington, 8 July (Argus) — US forces launched a new wave of attacks on Iran after President Donald Trump said on Wednesday the US-Iran ceasefire was "over". The air strikes, for a second night in a row, are meant to retaliate against Iranian attacks earlier this week on three commercial vessels attempting passage through the strait of Hormuz, the US Central Command (Centcom), which oversees the Middle East-based US forces, said at 5:15pm ET on Wednesday. Centcom carried out strikes on Iranian defense targets late on Tuesday, and Iranian forces retaliated with drone and missile attacks at US military installations in the Mideast Gulf. Iran's response so far has spared its neighbors' energy infrastructure. "As far as I'm concerned, it's over," Trump said on Wednesday of the ceasefire established by the US-Iran interim deal he signed on 18 June. Trump, in remarks at a Nato summit in Turkey, previewed the forthcoming attacks and said he may re-establish the US naval blockade that was removed last month. The US will continue strikes on Iranian military targets until Tehran agrees to fully reopen the strait of Hormuz to navigation and stops attacking vessels passing through it, US vice president JD Vance said on Wednesday. Trump, who said last month that the US would be unable to reopen Hormuz by military means alone, said he was no longer willing to negotiate with Iran. "I'm not sure I want to make a deal with them," Trump told reporters at the conclusion of the Nato summit. "Let's just finish the job," he said. Vance, who led the US diplomacy with Iran over sanctions relief and a ceasefire in Lebanon, on Wednesday described the interim US-Iran deal as hinging on the status of navigation through Hormuz. "The basic deal that we cut was, 'we'll lift our blockade if you stop shooting at ships,'" Vance told reporters during a visit to Wisconsin. "The strait of Hormuz is going to be open," Vance said. "That means oil and gas is going to flow to the American people." If Iran continues attacking ships in Hormuz, there will be a US military response, Vance said. The resumption of intense clashes between the US and Iranian militaries sent oil prices higher. August Nymex WTI rose by $3.08/bl to settle at $73.52/bl on Wednesday. Trump has touted the decline in crude futures since the US-Iran interim deal on 18 June, but he has expressed frustration at the slower pace of decline in US retail fuel prices. Trump has ordered federal prosecutors to begin looking into whether consumers were being "gouged" by oil companies, and his administration has invited state officials to join the federal probe. Tehran is talking tough too Tehran anticipated the resumption of US attacks and threatened to respond strongly to them. Tehran also vowed to fully close navigation through Hormuz. The 18 June deal called for the strait of Hormuz to fully reopen to commercial traffic, and for Tehran to receive limited sanctions relief in return. But key terms began to unravel well ahead of the 21 August deadline that the countries set to thrash out the final details of a peace agreement, including the fate of Iran's nuclear program. Tehran has been keen to preserve its control over the strait of Hormuz and has been attacking ships crossing close to the coast of Oman, in a section of the strait where the US and the International Maritime Organization have encouraged transits. The US on Tuesday revoked authorization to allow purchases of Iranian crude, refined products and petrochemicals. The US-Iran clashes since Tuesday followed an increase in hostile rhetoric from both countries, after Trump on 5 July said that the US passed on a chance to assassinate the Iranian leadership during the belated funeral for former supreme leader Ali Khamenei, who was killed in a US strike on 28 February. "We said, 'Go and do your funeral stuff,'" Trump said on Wednesday. "And instead of that, they start shooting rockets at ships yesterday." By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US, Iran threaten to escalate hostilities: Update
US, Iran threaten to escalate hostilities: Update
Updates with details throughout Washington, 8 July (Argus) — The US and Iran on Wednesday said the interim deal they signed last month is effectively over as they threatened to escalate attacks following overnight exchanges of fire in the Mideast Gulf. "As far as I'm concerned, it's over," President Donald Trump said of the US-Iran memorandum of understanding he signed on 18 June. Trump, in public remarks during meetings with foreign leaders on the sidelines of a Nato summit in Ankara, Turkey, said he will order the Pentagon to carry out another round of strikes against Iran and that he may reimpose a naval blockade on Iranian trade. Trump said he does not "want to deal" with the Iranian leadership anymore, describing them as "scum" and "sick people." But he appeared to keep the door open to a continuation of talks with Iran, of which there have been several rounds since the signing of the agreement. "Terrorist Trump officially announced that the Islamabad Memorandum of Understanding has ended," said Iranian news agency Tasnim, which is affiliated with Iran's Islamic Revolutionary Guard Corps (IRGC). "Continuing the understanding that Trump has also officially declared dead is logically and rationally wrong." Tehran will fully close navigation through the strait of Hormuz and respond strongly to any further US attacks, state news agency Press TV said. The resumption of intense clashes between the US and Iranian militaries sent oil prices higher . August Nymex WTI rose by $4.86/bl, or about 7pc, to $75.30/bl as of 11am ET. Trump, who had touted the decline in crude futures since the US-Iran interim deal was signed in June, acknowledged on Wednesday that the flare up in conflict would reverse the trend. "Any time we hit them, it goes up a little", Trump said about crude futures. "Maybe we'll do some other things that would lift it a little bit, but I don't think it's going to lift it a lot at all," Trump said. The 18 June interim deal was supposed to usher in a 60-day ceasefire and trigger a process to gradually reopen the strait of Hormuz for commercial shipping. The US military carried out strikes on Iranian defense targets late on 7 July, following Iranian attacks on vessels travelling along the strait's southern corridor. The IRGC said it retaliated with drone and missile attacks at US military installations in the Mideast Gulf, including the US Fifth Fleet headquarters in Bahrain and at the Ali al-Salem air base in Kuwait. The 18 June deal called for the strait of Hormuz to fully reopen to commercial traffic, and for Tehran to receive limited sanctions relief in return. But key terms are unravelling well ahead of the 21 August deadline that the countries set to thrash out the final details of a peace agreement, including the fate of Iran's nuclear program. The US on Tuesday also revoked authorisation to allow purchases of Iranian crude, refined products and petrochemicals. By Nader Itayim, Prethika Nair and Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US resumes strikes on Iran after Hormuz attacks
US resumes strikes on Iran after Hormuz attacks
Washington, 7 July (Argus) — The US military carried out strikes on targets in Iran on Tuesday following Iranian attacks on vessels traveling along the southern portions of the strait of Hormuz. The US began "launching a series of powerful strikes against Iran", the Central Command, which oversees the Middle East-based US forces, said at 5:15pm ET. The US and Iran last exchanged fire on 27-28 June, also following Iranian attacks on vessels attempting to pass through Hormuz. Iran attacked three vessels traveling along the southern portions of the strait of Hormuz in the last day, including an LNG tanker and a very large crude carrier. The UK Maritime Trade Organization (UKMTO) subsequently raised the threat level in the Mideast Gulf waterway to "severe". The US and Iran signed an interim deal on 18 June that called for Hormuz to fully reopen to commercial traffic and for Tehran to receive sanctions relief. But the key terms of that deal are already unraveling well ahead of the 21 August deadline the two countries set to hash out final details of a peace agreement. Traffic through Hormuz held steady at around 30pc of pre-war levels in the week before the latest flare up of hostilities. The US administration earlier on Tuesday revoked an authorization allowing purchases of Iranian crude, refined products and petrochemicals. Tehran has been keen to preserve its control over the strait of Hormuz and has been attacking ships crossing close to the coast of Oman, in a section of the strait where the US and the International Maritime Organization have encouraged transits. President Donald Trump, who is in Ankara, Turkey, to attend a NATO summit, said on Tuesday, before the US attacks began, that "we have had some very good discussions" with Iran. US benchmark WTI crude futures rose on Tuesday after the spate of Iranian attacks and were trading above $72/bl before the US began the latest round of attacks against Iran. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Iran revives shipping attacks in Hormuz
Iran revives shipping attacks in Hormuz
New York, 7 July (Argus) — Iran attacked three vessels traveling along the southern portions of the strait of Hormuz in the last 24 hours, significantly raising the threat level to commercial shipping in the region, according to shipping security sources. The UK Maritime Trade Organization (UKMTO) raised the threat level in the strait from "substantial" to "severe" as of 17:05 GMT on Tuesday, the second-highest level on Joint Maritime Information Committee's threat scale, following the three attacks by Iran on commercial shipping in the region. The three attacks appear to have happened as the ships were crossing close to the coast of Oman, in a section of the strait where the US has encouraged transits to avoid Iranian claims of control. A very large crude carried (VLCC) was hit 16 nautical miles (nm) east of Khor Fakkan, UAE, while exiting the strait of Hormuz, according to UKMTO, while another tanker was struck 6nm off Musandam Peninsula, Oman, reporting minor structural damage. Neither of the vessels reported casualties and are proceeding to their next port of call. The third vessel attacked was an LNG tanker identified by Qatar as Al Rekayyat , which EOS Marine's head of advisory Martin Kelly claims in a social media post is now abandoned . The safety of the southern route through the strait, which had been seen as a relatively safe safe transit lane for the past two weeks by assistance from the US military, is now in serious question, according to maritime security firm Windward. Iran is "turning the screw on control of the strait of Hormuz" after the three ships were struck route "despite US air support", Kelly said. Following the attacks on Tuesday, the US revoked an authorization allowing purchases of Iranian crude and refined products , as the US-Iran interim deal signed last month shows signs of fracturing. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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