US Strikes Iran Fifth Day, Reimposes Hormuz Blockade

Global oil markets face renewed pressure as the United States conducted a seventh-hour wave of strikes on Iranian military sites along the southern coast and resumed its naval blockade of Iranian ports. The moves follow four consecutive days of exchanges and come after a June memorandum of understanding collapsed over control of the Strait of Hormuz, through which roughly one-fifth of global oil shipments previously passed.

CENTCOM stated the strikes, which began at 6 a.m. ET Wednesday, targeted missile and drone sites, naval capabilities, and coastal defenses to degrade Iran's ability to threaten commercial shipping. Iran reported explosions in Bandar Abbas, Bushehr, and other southern locations. Iranian government spokesperson Fatemeh Mohajerani said more than 30 civilians were killed and Health Ministry spokesperson Hossein Kermanpour reported over 260 injured in recent US strikes.

The Islamic Revolutionary Guard Corps claimed retaliatory strikes on US assets in Bahrain, Kuwait, and Jordan, including damage to the Fifth Fleet headquarters and aircraft shelters. Kuwait, Jordan, and Bahrain confirmed intercepts of incoming missiles and drones. CENTCOM had previously reported that Iran attacked seven commercial ships in the preceding week, resulting in nearly a dozen crew members killed, missing, or injured.

President Trump told Fox News that strikes would continue and that power plants and bridges would be targeted next week unless Iran returns to negotiations. He reversed an earlier plan to impose a 20 percent transit fee through the strait after discussions with Gulf leaders, replacing it with commitments for investment in the United States. Iran’s Deputy Foreign Minister Kazem Gharibabadi stated the blockade had dismantled the June truce and warned that energy exports from the region would be available to all or to none.

Brent crude rose above $85 per barrel. Shipping through the strait slowed sharply. An interim ceasefire reached last month had aimed to restart talks, but both sides now accuse the other of violating the agreement.