strikeMay 26, 2026

Markets rejoice as deal to reopen Hormuz nears, but U.S. forces conduct 'self-defense strikes' on Iranian missile sites and boats laying mines | Fortune

Summary

Stock futures jumped while oil prices and bond yields tumbled Monday evening on reports that a deal to reopen the Strait of Hormuz was coming together, even as the U.S. military conducted new airstrikes on Iran. Futures tied to the Dow Jones industrial average surged 297 points, or 0.58%. S&P 500 futures were up 0.64%, and Nasdaq futures leapt 0.90%. All three indexes pulled back a bit from earlier highs. U.S. oil futures sank 5.5% to $91.32 a barrel, but also pared steeper losses. Gold rose 0.48% to $4,545 per ounce. The U.S. dollar was up 0.07% against the euro and up 0.04% against the yen. The yield on the 10-year Treasury plunged 7.2 basis points to 4.50%. Reports over the holiday weekend pointed to an emerging agreement that would extend the ceasefire for 60 days. At the same time, Iran would allow ship traffic to flow freely through the Strait of Hormuz, while the U.S. would lift its naval blockade on Iranian ports. But the thornier issues of Iran’s uranium and nuclear program as well as the U.S. lifting sanctions and unfreezing Iranian assets would be tackled in negotiations during the 60-day window. While talks haven’t begun yet, President Donald Trump signaled a major concession on the nuclear issue, saying in a social media post that he’s open to allowing Iran’s enriched uranium be destroyed “at another acceptable location” outside the U.S. Renewed fighting on Monday has already tested the fragile situation as explosions rocked the southern port city of Bandar Abbas near the Strait of Hormuz. “U.S. forces conducted self-defense strikes in southern Iran today to protect our troops from threats posed by Iranian forces,” a U.S. Central Command spokesman told Fox News. “Targets included missile launch sites and Iranian boats attempting to emplace mines.” He added that U.S. used restraint “during the ongoing ceasefire,” indicating the attacks do not mean the ceasefire is over. Sources also told Fox separately that the U.S. military destroyed two Islamic Revolutionary Guard Corps vessels trying to deploy mines and a surface-to-air missile site in Bandar Abbas that was targeting U.S. planes. Meanwhile, Israeli Prime Minister Benjamin Netanyahu said attacks on Hezbollah would intensify, potentially threatening the talks as Iran has insisted that any deal include the Lebanese militant group. Despite the current ceasefire starting a month and a half ago, Israel and Hezbollah have been exchanging attacks during that time. “But we are not removing our foot from the pedal,” Netanyahu said Monday. “On the contrary, I said to press on the pedal even more.” Even if the Strait of Hormuz opens immediately, the full resumption of the oil trade and traffic flows could take two or three months. Top oil-consuming countries have been releasing reserves to help offset shortfalls while other countries have enacted strict rationing policies. But the global economy is running out of time. Veteran commodities analyst Jeff Currie, Carlyle’s chief strategy officer of energy pathways, told CNBC that Asia is already close to minimum operating levels, or “tank bottoms.” “I would say, Asia, you’re there,” he added. “Europe, give it about another month, and look for July being a problem in the U.S.”

Perspectives

Iranian Official

US airstrikes on Iranian soil, including explosions in Bandar Abbas, represent blatant foreign aggression and a violation of sovereignty amid fragile ceasefire talks. Iran maintains firm control over the Strait of Hormuz and its nuclear program, resisting external blockades and demands while considering limited traffic adjustments only under continued pressure. Any 60-day extension would serve as a temporary measure to counter US interference, not a surrender of national rights.

Israeli

Despite fleeting market optimism over a potential 60-day Hormuz ceasefire, Iran’s nuclear program remains an existential threat to Israel, backed by its vast proxy network stretching from Hezbollah and Hamas to the Houthis. The deferral of uranium and sanctions issues in any U.S. deal only underscores the necessity of sustained Israeli defensive operations and vigilance against Tehran’s repeated violations. Renewed strikes near Bandar Abbas further illustrate why Israel cannot rely on fragile truces that leave its survival dependent on Iranian goodwill.

Neutral

U.S. stock futures rose while oil prices and Treasury yields fell Monday evening amid reports of an emerging agreement to reopen the Strait of Hormuz and extend a ceasefire for 60 days. The reported terms would permit ship traffic through the strait and lift the U.S. naval blockade, with nuclear and sanctions issues deferred to later talks; President Trump posted that he was open to destroying Iran’s enriched uranium at an acceptable site outside the United States. U.S. airstrikes on Iran continued and explosions were reported in Bandar Abbas.

Western

US precision airstrikes on Iranian targets have advanced the neutralization of threats to regional stability and energy security, aligning with reports of a potential 60-day ceasefire that would restore free navigation through the Strait of Hormuz. Markets responded with gains in stock futures and sharp declines in oil prices, reflecting reduced risks to global supply routes. Follow-on talks would target verifiable dismantlement of Iran’s nuclear capabilities to prevent future escalation.

Pro-Peace

Despite reports of an emerging 60-day ceasefire and diplomatic deal to reopen the Strait of Hormuz, U.S. airstrikes and renewed explosions in Bandar Abbas have intensified civilian risks, disrupting lives and infrastructure in Iranian port cities. Markets surged on hopes for negotiated relief from sanctions and blockades, revealing the heavy humanitarian toll of prolonged conflict over uranium issues that could instead be resolved through sustained diplomacy. Such military actions risk deepening suffering for ordinary Iranians while underscoring the urgent need to prioritize talks that avert further casualties.

Global South

US military airstrikes and naval blockades underscore ongoing neo-colonial pressure on Iran’s sovereignty over the Strait of Hormuz, a vital energy artery whose closure or reopening disproportionately impacts Global South economies reliant on stable oil flows. Reports of a 60-day ceasefire and eased restrictions reflect temporary concessions extracted amid institutional failures at the UN and elsewhere to curb unilateral Western dominance, while core disputes over Iran’s nuclear program and frozen assets remain unresolved. Renewed explosions in Bandar Abbas expose the fragility of deals that prioritize US interests over lasting regional autonomy.

Actors involved

IsraelIranProxy

Sources

Jason MaBy Jason Ma
Stock futures jumped while oil prices and bond yields tumbled Monday evening on reports that a deal to reopen the Strait of Hormuz was coming together, even as the U.S. military conducted new airstrikes on Iran. Futures tied to the Dow Jones industrial average surged 297 points, …

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Jul 21, 2026strikeUnverifiedUSIranProxy

Another ship hit in Hormuz as Houthis add to regional risks

○ 1 source

Another ship hit in Hormuz as Houthis add to regional risks A tanker has been struck by an unknown projectile northeast of Oman’s Limah, UK Maritime Trade Operations says on Tuesday - Hormuz was deserted on Jul 21, with no ships observed transiting, data shows.

PHOTO: REUTERS [SINGAPORE] Another tanker was attacked in the Strait of Hormuz as renewed hostilities empty the waterway, while a threat by Houthi rebels to blockade Saudi Arabia in the Red Sea heightened regional maritime risks. The Kaifan, an oil products tanker owned by Kuwait Oil Tanker, was the vessel attacked in the strait, according to security consultancy EOS Risk Group.

The ship was struck by an unknown projectile northeast of Oman’s Limah, UK Maritime Trade Operations said earlier on Tuesday (Jul 21), without naming the tanker. Kuwait Oil Tanker did not immediately respond to emailed requests for comment, and ship tracking data shows Kaifan last signalled its location more than a month ago near Sohar, Oman.

The attack on the Kuwaiti tanker follows strikes in recent days on vessels owned by Dynacom Tankers Management. Hormuz was deserted on Tuesday, with no ships observed transiting, data shows. Iran’s recent spate of attacks has focused on oil tankers shuttling through the strait along the Omani coast, often with their transponders turned off.

Earlier strikes have affected major operators such as South Korea’s Sinokor Group and Greece’s Dynacom, which have been instrumental in sustaining crude flows during much of the war with tankers sailing through Hormuz dark. In the week ended Jul 19, Hormuz crossings averaged seven tankers each day, compared with 16 per day a week earlier, said Rahul Kapoor, global head of shipping analytics and research for S&P Global Energy.

“Ship operators remain increasingly cautious, with risk tolerances continuing to be tested,” he said. An empty Sinokor supertanker, Plata Singapore, that was sailing towards the Gulf of Oman with the aim of reaching Saudi Arabia’s Ras Tanura in the Persian Gulf, deviated from its path on Sunday, according to ship tracking data.

The vessel is currently in the Arabian Sea. The South Korean company did not immediately respond to an emailed request for comment. The threat by Iran-backed Houthi militants to blockade Saudi Arabia’s maritime traffic has added another element of risk.

Shipowners with vessels seeking to transit the Red Sea were advised to review their affiliations with the kingdom, with at least one supertanker in nearby waters switching its broadcast to say that it belongs to the Indian government. The India-flagged supertanker, Desh Viraat, which is half-filled with crude from Fujairah, began sailing southwest earlier this week towards Bab el Mandeb in the Gulf of Aden, signalling it had armed guards onboard.

Soon after the Houthi threat on Monday, it switched that signal to “Govt. of India Await”, making clear that it has links to New Delhi. Desh Viraat’s owner, the Shipping Corporation of India, did not immediately respond to an emailed request for comment.

“Companies maintaining regular Saudi trade should consider their exposure elevated, particularly for vessels calling at Red Sea ports,” maritime risk company Marisks said in a note to clients late on Monday that was seen by Bloomberg News. Even though it remains to be seen whether the Houthis will carry through with their threat, “for shipowners, risks have heightened”, said Anoop Singh, global head of shipping research at Oil Brokerage.

“If you have an alternate voyage to take, then you will take that and avoid those in the region.” BLOOMBERG Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox.

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Jul 21, 2026strikeUnverifiedUSIsraelIranProxy

Oil prices to hit $120 soon? Goldman Sachs makes big prediction as Hormuz concerns loom

○ 1 source

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.

Location: Tehran

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Jul 21, 2026strikeUnverifiedUSIsraelIranProxy

Iran claims attacks in strait of Hormuz; Houthis announce blockade of Red Sea shipping route – Middle East crisis live

○ 1 source

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 Yemen’s 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 – at the southern end of the Red Sea, through which about 12% of the world’s trade usually passes – would be closed to the Saudis in response to the kingdom’s “unjust blockade on Yemenis for over 10 years”.

Saudi Arabia said it would take “all necessary measures to protect its vessels in accordance with international law”. 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 Iran’s president said the country had returned “full-scale war”, the Iranian interior minister travelled to Pakistan – a key mediator in the conflict – for talks. In key developments: The latest US strikes came hours after Donald Trump said Iran would pay “many times over” 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 military’s United Kingdom Maritime Trade Operations centre said. Iran’s Revolutionary Guards claimed the attack as well as two other attacks on ships in the waterway on Monday.

The US military’s Central Command said its latest airstrikes were to “degrade” Iran’s 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 country’s only operational civilian nuclear power.

Iran’s 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.

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Jul 21, 2026strikeUnverifiedUSIranUN

Inside the US strike on a shadow fleet tanker

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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.

Location: Strait of Hormuz

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