US-Iran Strait of Hormuz Conflict Escalates
Analysis based on 480 articles · First reported Apr 20, 2026 · Last updated Jul 20, 2026
Oil prices have surged above $90 per barrel, with Brent Crude rising over 15% since the ceasefire collapse, as the Strait of Hormuz remains largely closed to shipping. The conflict is tightening global oil supplies and raising inflation risks, with the IEA warning of a potential energy crisis.
The United States and Iran have escalated their conflict over control of the Strait of Hormuz, with both sides launching strikes on infrastructure and military targets. The US has conducted multiple nights of airstrikes on Iranian bridges, ports, power infrastructure, and military sites, while Iran has retaliated by attacking US allies in the Gulf, including Kuwait, Bahrain, Qatar, and Jordan, damaging a desalination plant in Kuwait and targeting a key mediator, Qatar. The interim ceasefire signed in June has collapsed, and oil prices have surged above $90 per barrel. The US has reimposed a naval blockade on Iranian ports, and Iran has effectively closed the strait to most shipping. Diplomatic efforts by Qatar and Pakistan continue, but both sides show little sign of backing down. The conflict has caused hundreds of casualties and threatens global energy supplies.
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