US and Iran trade strikes as Hormuz traffic stops
Continues from the edition of 12 July.
US aircraft, naval vessels and drones struck Iranian air-defence systems, coastal radar sites, missile and drone assets and small boats overnight, while Iran’s Revolutionary Guards said they targeted US facilities in Jordan, Bahrain, Kuwait and Oman. Jordan said it intercepted four Iranian missiles, and Kuwait said it engaged hostile aerial targets, which pulled several Gulf hosts of American forces deeper into the crisis.
The Strait of Hormuz then went quiet in the most literal way markets understand. Kpler reported that no commercial vessels crossed the waterway while broadcasting their location after Sunday evening; eight vessels transited on Sunday, compared with a pre-conflict daily average of 138 ships.
- Pre-conflict average138
- Friday14
- Saturday21
- Sunday8
- After Sunday evening0
Iran’s foreign ministry said the June memorandum meant to reopen the strait and allow 60 days of talks was now in trouble.
“There is no doubt that this document is in crisis. Each time that the other party has failed to meet its obligations, we did not uphold ours. We will continue to act in this manner.”
Oil reacted as expected: Brent rose 4.3% to $79.31 a barrel, while WTI climbed by as much as 4.5% toward $74. That is not yet a wartime price shock, but it is enough to bother central bankers and any politician who has to explain petrol prices before an election. The waterway has become both battlefield and barometer, which means every fresh radar strike now carries a shipping invoice.
Reporting from: Reuters, The Irish Times, The Independent, Irish Independent, The Economist, The Wall Street Journal