Rubio: Iran uses Hormuz as leverage
Analysis based on 6 articles · First reported Jul 20, 2026 · Last updated Jul 20, 2026
The conflict threatens the Strait of Hormuz, a chokepoint for about 20% of global oil shipments, potentially disrupting energy supplies and raising oil prices. Shipping and insurance costs may rise, and defense stocks could benefit from increased military spending.
US Secretary of State Marco Rubio accused Iran of attempting to use the Strait of Hormuz as leverage against the world, urging other nations to contribute more to protect global shipping. The US Central Command conducted its ninth consecutive night of strikes on Iranian military targets. Iran's IRGC claimed it targeted tankers in the Strait of Hormuz and struck US military targets in Kuwait. A US soldier died in Iraq during a controlled detonation of unexploded ordnance from a downed Iranian drone. An Iranian missile penetrated Jordan's air defenses. Bahrain sounded missile alert sirens warning of possible Iranian retaliation. Rubio also mentioned that Iranian officials have signaled desire for talks.
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