US and Iran exchange blows in rekindled Middle East war

The United States has launched a sixth consecutive night of strikes against Iran, with US Central Command stating the aim is to "further degrade Iranian military capabilities." These attacks, occurring near the Strait of Hormuz, Bandar Abbas, and Bushehr, follow an exchange of strikes between the two nations. Iran's state media reported US missiles hit areas close to the Gulf island of Qeshm. The renewed hostilities have strained a preliminary deal to end the war, though the White House indicated President Trump remains open to diplomacy while holding Iran accountable for actions in the Strait of Hormuz. The Strait of Hormuz remains shut, having been blocked by Tehran in response to US-Israeli strikes.

The United States conducted new strikes against Iran on Wednesday, targeting Iranian military capabilities used to threaten shipping in the Strait of Hormuz. US Central Command stated the strikes began at 1900 GMT. President Donald Trump warned that attacks could expand if Iran does not return to negotiations. Additionally, the US military reported that an aircraft fired on and disabled an empty oil tanker attempting to bypass a naval blockade of Iran's ports. These actions aim to reduce Iran's capacity to disrupt maritime transit in the crucial waterway.

Following U.S. Central Command (CENTCOM) strikes against Iran, Iranian officials issued threats of retaliation. Ebrahim Rezaei, a member of Iran's Parliament, warned of a "hard slap" from Iranians, while Parliament Speaker Mohammad Bagher Ghalibaf stated, "if you strike, you'll get hit." These statements came after CENTCOM announced additional strikes on July 8th to degrade Iran's ability to threaten freedom of navigation in the Strait of Hormuz, citing Iran's recent aggression against commercial shipping. CENTCOM reported striking approximately 90 Iranian military targets, following earlier strikes on July 7th that hit around 80 targets, including IRGC boats. President Donald Trump also declared the U.S.-Iran ceasefire agreement "over." Additionally, Kuwait and Bahrain reported intercepting Iranian drone and missile attacks.

The US military conducted strikes on Iran for a second day, following an attack on three cargo ships in the Strait of Hormuz. President Trump stated that an interim agreement to end the war was "over" and that Iran was "behaving very badly," accusing them of launching drones and missiles. These renewed hostilities have led to a jump in oil prices and a lowered global economic growth forecast by the IMF, with tanker traffic through the Strait of Hormuz reportedly halted. In Maine, Democratic Senate nominee Graham Platner suspended his campaign after sexual assault allegations, prompting Democrats to select a replacement. Separately, the family of a Mexican immigrant fatally shot by an ICE agent in Texas is calling for an independent investigation into the incident.

President Donald Trump has declared the ceasefire with Iran over and suggested the U.S. should "finish the job," despite insisting new attacks do not signal a return to full-scale war. This mixed messaging follows recent U.S. military strikes aimed at degrading Iran's ability to threaten navigation in the Strait of Hormuz. The U.S. is reportedly frustrated with Iran's alleged attacks on ships and slow progress on nuclear program discussions, while Iran claims the U.S. is violating the agreement. Mediators, including officials from Pakistan and Qatar, are working to salvage the interim deal amidst rising tensions. Experts suggest Trump's rhetoric may be a negotiation tactic to pressure Tehran, but it risks escalating the conflict and potentially impacting upcoming midterm elections if gas prices rise.

The United States conducted a second night of air attacks on Iran, targeting military sites in Tehran and southern cities. These strikes, which killed at least 14 people, were a response to Iran's earlier attacks on commercial ships in the Strait of Hormuz. US Central Command stated the aim was to degrade Iran's ability to attack shipping. Despite the escalation, neither side has officially ended an interim peace agreement, though President Trump suggested it was "over." The tit-for-tat strikes have significantly slowed shipping traffic in the Strait of Hormuz, trapping thousands of sailors. The attacks occurred during the funeral of Iran's late Supreme Leader, Ayatollah Khamenei.

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.

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.

Iran has asserted its control over the Strait of Hormuz following recent drone attacks on ships, prompting a strong reaction from U.S. President Donald Trump. Trump declared a memorandum of understanding (MoU) between the U.S. and Iran to be over and criticized Iranian leaders. The U.S. military conducted retaliatory strikes, while Iran launched projectiles and shot down a U.S. drone. Iran's Foreign Ministry accused the U.S. of violating the MoU and condemned the rescinding of oil export waivers. The dispute centers on differing interpretations of an MoU article regarding safe passage through the strait, with Iran claiming authority over traffic management. Negotiations remain uncertain amidst ongoing funeral ceremonies for Iran's Supreme Leader.

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 International Monetary Fund (IMF) has lowered its global economic growth forecast for this year to 3%, citing the energy shock from the Iran war as a primary reason. This conflict, which led to the shutdown of the Strait of Hormuz, has caused energy prices to soar, impacting global consumer prices. However, the IMF notes that booming investment in artificial intelligence and other technologies is partially offsetting these negative effects. The United States economy is projected to grow by a solid 2.3%, benefiting from AI investment and domestic factors. In contrast, the Eurozone countries are expected to grow only 0.9% due to higher energy costs. China's economy is forecast to expand by 4.6%, supported by public works and exports, while India is expected to remain the fastest-growing major economy at 6.4%.

The International Monetary Fund (IMF) has upgraded its UK growth forecast for 2026 to 1%, a 0.2 percentage point increase from its April projection, making it the third fastest-growing G7 economy. This adjustment, finalized before recent Middle East hostilities, suggests the economic impact of the Iran conflict may be less severe than initially feared. The IMF's forecast for global growth remains largely unchanged at 3% for this year. While AI investment has cushioned some economic blows, the IMF warns of downside risks, including renewed conflict and a potential correction in technology market valuations. The UK's inflation rate remained steady in May, with markets anticipating limited interest rate hikes.

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.