US strikes Iran for third night
Analysis based on 56 articles · First reported Jul 13, 2026 · Last updated Jul 14, 2026
Oil prices rose sharply, with Brent Crude up 7.8% to $81.92 per barrel, due to fears of supply disruptions in the Strait of Hormuz. The blockade and proposed tolls threaten global shipping and energy markets, potentially fueling inflation and impacting consumer prices ahead of US elections.
The United States launched a third consecutive night of strikes against Iran on July 14, 2026, targeting military sites across Iran including Bushehr, Bandar Abbas, and other locations. President Donald Trump announced a reimposed blockade on Iranian ports and proposed a 20% fee on cargo transiting the Strait of Hormuz. Iran retaliated by striking two UAE tankers in the strait, killing one crew member and wounding eight, and launching missiles and drones at US facilities in Bahrain. The escalation follows the collapse of a June interim ceasefire deal, which Iran's Foreign Ministry declared 'in crisis'. Oil prices surged over 9% on supply disruption fears. Trump stated a deal with Iran was still possible, but both sides continued hostilities. The US formally notified Congress of resumed hostilities, triggering a 60-day window for military operations without approval.
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