US, Iran launch more attacks as mediators urge warring sides to uphold MoU

The United States and Iran have engaged in a second day of retaliatory attacks, escalating tensions and jeopardizing a recent memorandum of understanding (MoU) aimed at extending a ceasefire and reopening the Strait of Hormuz. Following US strikes on approximately 90 Iranian military targets, Iran stated it attacked US military-linked sites in Kuwait, Bahrain, and Qatar. The US Central Command reported its strikes targeted Iran's ability to threaten freedom of navigation in the Strait of Hormuz, while Iran claimed its actions were in response to the US bombardment. These exchanges threaten to undermine the MoU brokered by Pakistan and Qatar, which sought to de-escalate conflict and address broader issues between the two nations.

The United States launched new airstrikes against Iran early Thursday, targeting approximately 90 military sites and port facilities, in retaliation for Iran's recent attacks on merchant vessels in the Strait of Hormuz. Iran responded by targeting Bahrain, Kuwait, and Qatar. U.S. President Donald Trump stated these strikes were to degrade Iran's ability to threaten freedom of navigation and warned of further escalation if shipping attacks continue. Iranian state media reported explosions in various locations, including near the Bushehr nuclear power plant and port cities. Trump declared the interim ceasefire agreement "over" but allowed negotiations to continue, while Iran's deputy foreign minister viewed his remarks as an admission of policy failure. These escalating actions have raised fears of a renewed conflict and caused oil prices to surge.

Iran has conducted retaliatory strikes on US bases in Bahrain, Kuwait, and Qatar over two nights. Sirens sounded in Bahrain, Kuwait, and Qatar as air defense systems intercepted incoming Iranian drones and missiles. There have been no immediate reports of damage. The article states that an interim truce appears increasingly precarious due to these actions.

The International Monetary Fund (IMF) has lowered its 2026 global growth forecast to 3 percent, down from 3.1 percent previously. This revision is attributed to the "lingering effects" of an energy shock stemming from the US-Israel war on Iran. The IMF notes that demand driven by artificial intelligence is partially offsetting this impact. Global inflation is projected to rise to 4.7 percent this year before easing. The forecast assumes the Strait of Hormuz will reopen by mid-July and return to pre-war conditions by March. The IMF released its latest outlook on Wednesday, acknowledging the uncertainty and risks surrounding the global economic picture.

Following deadly US attacks on Iran that reportedly killed at least one person and caused power outages, sirens sounded across Bahrain and Kuwait, with warnings also issued in Qatar. In Qatar, residents were advised to stay indoors and away from windows until the danger passed. Kuwait's defense ministry reported intercepting drones and missiles, urging citizens to take precautions and noting that any explosions were due to these interceptions. Bahrain's interior ministry also issued an alert. Countries in the Gulf region are preparing for potential retaliatory attacks, as is common after US strikes on Iranian targets. Iran claims to be targeting the sources of attacks on its territory, a stance that has caused contention and anger in Gulf nations who state they are not involved in the conflict.

The US military has launched a second night of strikes against Iran, following President Trump's declaration that a ceasefire is "over." These actions, directed by President Trump, aim to degrade Iran's ability to threaten freedom of navigation in the Strait of Hormuz. The US Central Command stated that Iran is being held accountable for recent aggression against commercial shipping. Iran's Mehr news agency reported its air defenses engaging "hostile targets" near Bandar Abbas and explosions in other coastal areas. Both nations accuse each other of violating a mid-June memorandum of understanding that ended fighting and lifted a US naval blockade. A key dispute centers on the clause regarding safe passage of commercial vessels through the Strait of Hormuz, with Iran asserting sole responsibility for determining passage arrangements.

The US military conducted strikes on Iran for a second consecutive day following President Trump's declaration that an interim agreement to end the war was "over." These strikes targeted three locations across Iran, including Bandar Abbas, Sirik, and Bushehr province, in retaliation for Iran's earlier attacks on three tankers in the Strait of Hormuz. US Central Command confirmed the actions were aimed at degrading Iran's ability to threaten freedom of navigation. The escalation follows an exchange of fire after Iran targeted merchant vessels, and the US also revoked a temporary sanctions waiver for Iranian oil exports. The strikes occurred as Iran was preparing to bury its supreme leader, Ayatollah Ali Khamenei.

The United States has launched further strikes on Iran, with explosions reported in the country's south, including port cities on the Strait of Hormuz. President Donald Trump stated these actions are retribution for Iran's alleged bombing of ships the previous day, warning of escalating consequences if such attacks recur. US Central Command confirmed the strikes aimed to degrade Iran's ability to threaten freedom of navigation in the waterway and hold Iran accountable for recent aggression against commercial shipping. Iranian state media reported multiple explosions in Bandar Abbas and missile strikes on ports in Sirik and Jask. Senior Iranian officials had previously vowed an immediate response to any US attack.

US stock markets declined on Wednesday due to ongoing US strikes on Iran and concerns from the Federal Reserve about potentially higher interest rates. President Trump declared the Iran-US ceasefire over, leading to a sharp rise in oil prices, with Brent crude exceeding $80 a barrel. The Dow Jones Industrial Average fell 1.09%, while the S&P 500 experienced a slight loss and the Nasdaq saw a minor gain. Global stock markets also saw declines. The Federal Reserve's meeting minutes indicated that some officials believe interest rates may need to increase to combat rising inflation, which reached a three-year high of 4.2% in May. This situation presents a challenge for the Fed chair, who was nominated by President Trump, who has publicly called for lower interest rates.

Global markets experienced a downturn and oil prices surged following US President Donald Trump's announcement that the memorandum of understanding with Iran to end conflict was "over" and that additional strikes were likely. Brent crude hit a two-week high of $77.24 a barrel. Major US stock indices opened lower, with the Dow down 0.8 percent. Travel stocks plunged due to rising fuel costs, with United Airlines falling 3 percent, while energy stocks saw gains. These developments risk reversing recent declines in fuel prices and could lead to a second oil shock, according to analysts. The escalation follows Iran's Revolutionary Guard Corps targeting US military sites in response to US strikes.

The International Monetary Fund (IMF) has lowered its global economic growth forecast for 2026 to 3%, down from its previous projection of 3.1% in April. This downward revision is primarily attributed to the energy shock resulting from the Iran war, which caused Iran to shut down the Strait of Hormuz, leading to soaring oil prices. The IMF anticipates oil prices to rise by nearly 32% this year, contributing to a projected 4.7% increase in global consumer prices, stalling progress against inflation. However, the negative impact of the conflict is being partially offset by robust investment in artificial intelligence and other technologies. The IMF's forecasts are contingent on the Strait of Hormuz reopening later this month and commerce returning to normal by March of next year.

The United States conducted new strikes on Iran on Wednesday in response to Iranian attacks on ships in the Strait of Hormuz. President Donald Trump ordered the retaliation, stating his expectation for the military escalation to conclude swiftly and indicating a willingness for further discussions. U.S. Central Command (CENTCOM) confirmed the strikes were aimed at diminishing Iran's capacity to jeopardize freedom of navigation in the strait, a vital waterway for global energy transport. The article does not provide further details on the specific nature or targets of these strikes.

The United States launched over 80 strikes on Iran in response to Tehran's attacks on three commercial vessels in the Strait of Hormuz. US President Donald Trump stated the memorandum of understanding (MoU) with Iran is "over," though he might allow peace talks to continue. Iran's Islamic Revolutionary Guard Corps claimed to have retaliated by targeting US assets in neighboring countries. Both nations accuse each other of violating the June MoU, which initiated a 60-day peace negotiation process. The strikes, which targeted Iranian air defense systems, command and control networks, and small boats, represent the largest US attacks since April. Iran's actions were reportedly in response to ships ignoring warnings to change direction while transiting the strait.

Iran has accused the United States of violating a peace agreement after US military strikes targeted sites around the Strait of Hormuz. The US stated these strikes were a response to Iran's attacks on three commercial vessels in the strait on Tuesday. The US also revoked a temporary sanctions waiver for Iran's oil exports, which Iran cited as a breach of the agreement. Iranian state media reported explosions on Qeshm island and in the cities of Sirik and Bandar Abbas. Iran's foreign ministry warned of "decisive measures" in response to what it called repeated US violations of a memorandum of understanding signed last month, which began 60 days of negotiations. The US described Iran's actions as "unwarranted, dangerous, and a clear violation of the ceasefire."

Oil prices surged over 3% on Wednesday following U.S. strikes on Iran, which were launched after Iran reportedly attacked three ships in the Strait of Hormuz. Asian shares experienced mixed trading, with markets in Greater China rising while others like Tokyo and Seoul saw declines. South Korea's Kospi index, which had previously soared, fell significantly due to heavy selling in AI-related tech stocks such as Samsung Electronics. Concerns about the high valuations of AI stocks and their potential to justify massive investments in chips and data centers continue to impact market sentiment globally. In other trading, the U.S. dollar strengthened against the Japanese yen.

Oil prices surged as renewed hostilities between the United States and Iran impacted the Strait of Hormuz. Brent crude rose above $76 a barrel for the first time in two weeks after the US launched strikes on Iran and revoked a temporary waiver of sanctions on Iranian oil. This action followed attacks on three commercial vessels in the Strait of Hormuz, which US, Qatari, and Saudi officials blamed on Iran. US Central Command stated the strikes were to impose costs for targeting commercial shipping. Iran's Deputy Foreign Minister described the sanctions waiver revocation as a violation of a previous memorandum of understanding and warned of decisive actions to safeguard national interests.

The US military announced it launched airstrikes in southern Iran on Tuesday in response to Iranian attacks on three commercial vessels in the Strait of Hormuz. Explosions were reported in several locations in southern Iran, including the port city of Sirik and Qeshm Island, both strategically significant areas near the Strait. Iranian state TV reported multiple explosions in these regions. Following the strikes, Iran's foreign ministry stated it holds the US government responsible for the consequences of breaching a memorandum of understanding signed in June. This agreement was intended to end hostilities and involved lifting a US naval blockade in exchange for Iran reopening the Strait of Hormuz.

The US military conducted strikes against Iranian targets early Wednesday following the reported attacks on three merchant ships off Oman. US Central Command stated the strikes were intended to impose costs for targeting civilian commercial shipping in an international waterway, deeming Iran's actions unwarranted and a violation of a ceasefire. The incidents occurred on Tuesday, with three tankers, including a Qatari LNG vessel and a Saudi crude tanker, being struck in the Strait of Hormuz. Maritime authorities raised the threat level to "severe" for vessels in the area. Initial indications from a US official suggested Iran fired at two commercial vessels, though no immediate claim of responsibility was made.

The US Central Command has launched strikes against Iran, stating the action is intended to impose "heavy costs" on Iran for what it described as "unwarranted, dangerous, and a clear violation of the ceasefire." These strikes follow reports of attacks on tankers in the Strait of Hormuz. Qatar's foreign ministry holds Iran "fully responsible" for an apparent targeted attack on the vessel Al-Rekayyat, demanding Iran cease practices undermining regional security and global energy supplies. Saudi Arabia's foreign ministry also stated Iran targeted the Saudi tanker Wadyan as it crossed the Strait. Despite these actions, a US official indicated that US negotiators would continue to work in "good faith" towards a final deal with Iran. A previously issued US license authorizing Iran to sell oil and petrol products will be wound down by July 17.

A tanker caught fire after being struck by an "unknown projectile" in the Strait of Hormuz, with reports from US officials suggesting Iran's Islamic Revolutionary Guard Corps (IRGC) fired missiles at commercial ships. These attacks occurred during ongoing peace negotiations between the United States and Iran, where the Strait of Hormuz is a contentious issue due to Iran's restrictions on shipping. While marine traffic has shown resilience, vague provisions regarding the strait remain a sticking point in the talks. The incidents also follow funeral processions for former Iranian Supreme Leader Ayatollah Ali Khamenei, who was killed in US-Israeli strikes. The exact cause of the tanker incident is unclear, with one analyst suggesting it may have strayed into an area of Iranian mine-clearing operations.