The US military carried out its 11th and 12th consecutive days of strikes targeting Iranian military sites near the Strait of Hormuz on July 22-23, 2026, aiming to degrade Iran's ability to threaten commercial shipping there [1, 2, 3, 4]. This surge in military action followed the breakdown of a ceasefire with Iran in early July, sparking renewed hostility and attacks on vessels in critical waterways [5, 3, 6].

Iran-backed Houthi militants launched attacks on Saudi oil tankers in the Red Sea, marking the first such assaults on oil vessels in that corridor [7, 5, 4]. These strikes raised fears of broader disruptions to shipping safety. US President Donald Trump vowed to respond to any disruptions caused by Houthi attacks, stating, "If something like that happens, we take care of it," but did not specify exact measures [7, 1, 3].

Trump further threatened to bomb Iranian infrastructure such as bridges or power plants if Iran attacked ships transiting the Strait of Hormuz. He declared, "From this point forward, any time the Islamic Republic of Iran shoots at a ship... the United States will bomb and destroy ONE BRIDGE OR POWER PLANT" [6, 4]. In response, an Iranian military source warned Iran would retaliate against US-linked regional infrastructure, including energy facilities [6].

US Secretary of State Marco Rubio accused Iran of violating agreements over the Strait of Hormuz and said Iran was "not serious" about peace talks, adding, "If they're serious, we're serious. If they're not, then we will do what is necessary to protect our interests and also the interests of our allies" [2, 6]. However, Trump downplayed prospects for immediate negotiations, asserting, "They want to desperately meet and until they’re ready to meet in a meaningful way we have no interest" [7].

The Strait of Hormuz remains a critical but highly contested shipping lane. Attacks have pushed commercial traffic to record lows amid elevated security concerns [7, 1, 2, 6, 4]. Oil prices surged sharply in July 2026 amid the conflict and Houthi attacks, with Brent crude rising from about $90 to over $100 per barrel, an increase of nearly 30% driven by supply disruption fears [7, 8, 5, 3, 4]. West Texas Intermediate crude prices ranged between $85 and $88 in late July [8, 2, 6, 4]. Jay Hatfield, CEO of Infrastructure Capital Management LLC, warned that minimal Red Sea traffic could push oil prices to $120 a barrel, sparking conservation through higher prices [5].

The US military also reported several casualties amid the regional escalation, including the death of a US Army sergeant in Jordan around July 21, 2026 [1].

On July 24, oil prices surged past $100 per barrel for Brent crude, reflecting fears of continued disruptions as the conflict escalates and shipping lanes remain under threat [5].