US resumes strikes on Iran
Analysis based on 6 articles · First reported Jul 15, 2026 · Last updated Jul 16, 2026
The renewed conflict threatens oil and gas supplies through the Strait of Hormuz, potentially driving energy prices higher. Shipping and insurance costs are likely to rise due to increased risks to tankers.
The United States has entered a new phase of its war against Iran, resuming airstrikes and a naval blockade of Iranian ports after a ceasefire that lasted roughly 90 days. The new campaign focuses on loosening Iran's grip on the Strait of Hormuz, through which about 20% of the world's oil flows. U.S. forces have hit hundreds of military targets, including coastal radars, anti-ship missile launchers, and a railway bridge. Iran has retaliated by striking two crude oil carriers and an LNG tanker, killing an Semicon Indian crew member. The U.S. aims to force Iran to allow free passage through the strait and return to negotiations. The conflict has already cost tens of billions of dollars, with at least 3,500 Iranian and 13 U.S. service member deaths reported.
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