In the midst of continuous military strikes, Secretary of State Marco Rubio has expressed that the U.S. remains receptive to diplomatic discussions with Iran. âThe United States always remains open to a diplomatic solution. Weâve tried multiple times with Iran, and weâll continue to try. If that door opens, weâll be happy to see,â Rubio told CNN on Sunday before he departed for the Association of Southeast Asian Nations summit in Manila. Rubio criticized Iran for its attacks on ships and for blocking the Strait of Hormuz. He mentioned the memorandum of understanding (MOU) between the U.S. and Iran that was agreed upon in June, designed to enhance the ceasefire and restore traffic through the crucial waterway. âThey canât have an MOU thatâs alive if theyâre violating the terms of it,â Rubio stated. He added that despite Iranâs indications of willingness to negotiate, its actions, such as launching missiles and drones against ships, is what is driving the U.S. is retaliation. â..their behavior is what weâre responding to,â said Rubio. When questioned about the potential repercussions of the failure in diplomatic efforts, Rubio responded, âI donât think itâll be good for Iran. I mean, Iranâs economy is in shambles.â Hormuz Risks Grow as War Widens Rubioâs statement came as the U.S. military initiated its ninth consecutive night of strikes against Iran. The escalating military campaign against Iran and rising American casualties have renewed concerns over oil supplies through the Strait of Hormuz. At the time of writing, Brent crude oil prices were trading 3.2% higher at $90.89 per barrel. The Pentagon said a third U.S. service member had been killed in the latest fighting. The latest death brings the total number of U.S. military fatalities since the conflict began in February to 17. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image:Sam Navarro-Imagn Images Š 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. To add Benzinga News as your preferred source on Google, click here.
In the midst of continuous military strikes, Secretary of State Marco Rubio has expressed that the U.S. remains receptive to diplomatic discussions with Iran. âThe United States always remains open to a diplomatic solution. Weâve tried multiple times with Iran, and weâll continueâŚ
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A tanker identified as the Kaifan was struck by an unknown projectile northeast of Omanâs Limah in the Strait of Hormuz, according to a July 21 report from UK Maritime Trade Operations. No ships were observed transiting the strait that day. Attribution of the strike and links to prior incidents have not been confirmed by the vesselâs owner.
Goldman Sachs has projected Brent crude averaging $80 per barrel in the fourth quarter and $75 in the following year, conditional on reduced Middle East tensions, while noting upside risks from potential shipping disruptions in the Strait of Hormuz or Red Sea.
Brent prices rose above $91 per barrel amid recent U.S.-Iran exchanges and Houthi threats to Saudi shipments before edging lower on Tuesday. A senior Iranian official told Reuters that mediators had proposed a 10-day ceasefire to preserve an interim agreement.
Opening summary: Iran claims attacks on strait of Hormuz ships amid fresh US strikes Welcome to our live coverage of the latest developments in the Middle East crisis. Iran attacked a tanker in the strait of Hormuz early on Tuesday, forcing its crew to abandon the ship, as Yemenâs Iran-backed Houthis announced they were imposing an immediate maritime blockade of Saudi Arabia in the Red Sea after the two sides traded fire last week for the first time in years.
A Houthi official said the Bab al-Mandeb strait â at the southern end of the Red Sea, through which about 12% of the worldâs trade usually passes â would be closed to the Saudis in response to the kingdomâs âunjust blockade on Yemenis for over 10 yearsâ.
Saudi Arabia said it would take âall necessary measures to protect its vessels in accordance with international lawâ. A 10 consecutive night of US airstrikes has not compelled Tehran to loosen its grip on the strait of Hormuz, a vital route for global energy supplies.
But even as Iranâs president said the country had returned âfull-scale warâ, the Iranian interior minister travelled to Pakistan â a key mediator in the conflict â for talks. In key developments: The latest US strikes came hours after Donald Trump said Iran would pay âmany times overâ for killing US soldiers after multiple service members were killed in action over the weekend.
A tanker came under attack early Tuesday in the Hormuz strait off Oman, forcing the crew to abandon the vessel, the British militaryâs United Kingdom Maritime Trade Operations centre said. Iranâs Revolutionary Guards claimed the attack as well as two other attacks on ships in the waterway on Monday.
The US militaryâs Central Command said its latest airstrikes were to âdegradeâ Iranâs ability to attack commercial shipping in the strait and included hitting military command centres and missile and drone launch sites. Iranian media reported strikes in parts of the country including Bandar Abbas, Tabriz and Bushehr, home to the countryâs only operational civilian nuclear power.
Iranâs launched attacks in response against Bahrain, Kuwait and Jordan, which all host US forces. Oil prices softened after hitting their highest levels in more than a month in the previous session. Brent crude futures eased 0.4% to $88.87 a barrel by 0052 GMT on Tuesday while US West Texas Intermediate crude for September delivery was steady at $82.
47 a barrel. Democrats have seized on the deaths of three US troops killed in Iranian strikes to urge Trump to urgently reverse his resumption of the war with Iran amid widespread anxiety over climbing casualties. The Lebanese army began taking charge of security in three southern villages, the US said, as a deal to secure an Israeli withdrawal from southern Lebanon and the disarmament of Hezbollah faced its first test on the ground.
US forces struck the tanker Settebello in the Gulf of Oman on June 10, killing three Indian crew members when munitions hit the engine room and adjacent areas. Maritime tracking data indicate the vessel had transported Iranian oil under US sanctions for several years and conducted offshore transfers prior to the strike.
The US military described the action as a precision operation, while reports note the ship was stationary at the time.