strikeJul 20, 2026

Ship catches fire in Strait of Hormuz as US-Iran conflict escalates

Summary

Dubai: A ship caught fire early Monday in the Strait of Hormuz near the coastline of Oman, the British military said. The British military's United Kingdom Maritime Trade Operations center issued a warning about the fire, saying it was unclear what sparked the blaze. Also Read: Why the Strait of Hormuz is losing importance The US military has been encouraging ships to use a route near Oman to transit the Strait of Hormuz. Iran has responded with attacks targeting those vessels, insisting it must have control over the crucial waterway through which a fifth of all oil and natural gas traded once passed in peacetime. The United States began a new round of airstrikes early Monday targeting Iran after announcing the death of another American service member, and Iran fired missiles toward Jordan that risked widening the conflict into neighboring Israel. Step by step, the US and Iran have inched closer to all-out war as last month's interim deal meant to permanently end the fighting has crumbled and shipping traffic in the Strait of Hormuz has largely stalled. Both sides have targeted civilian infrastructure relied on by millions of people. The US military said the service member was killed in Iraq on Saturday during the "controlled detonation" of a downed Iranian drone. Earlier, the military said its strikes targeted Iran's paramilitary Revolutionary Guard to retaliate for Friday's killing of troops in Jordan. One service member was missing after that attack, and the military's new statement said "unidentified remains" were found Sunday and were being examined. Since the war began, 17 U.S. service members have been killed. Also Read: US and Iran exchange strikes as they struggle over Strait of Hormuz The renewed exchanges of fire, now in their second week, have seen the U.S. target bridges and electrical facilities in Iran. The US military's Central Command announced a new round of strikes early Monday, now into their ninth straight night. "The strikes will continue degrading Iranian military capabilities used to attack commercial vessels and civilian mariners transiting the Strait of Hormuz," Central Command said in a statement. Tehran has retaliated by hitting U.S.-allied countries throughout the Middle East. Bahrain, Jordan and Kuwait again activated air defenses for incoming Iranian drones and missiles. Israel warned that missiles launched toward neighboring Jordan could cause fire to spill over into Israeli territory for the first time in weeks. Iran's atomic energy agency said U.S. strikes targeted the construction site of a planned nuclear power plant in the southwest, state television reported. Satellite images from Planet Labs PBC of the Darkhovin nuclear plant site showed earth clearing but little construction as of July 9. Iran did not previously announce it as being targeted. The International Atomic Energy Agency said the site, in the "very early stages of construction," contained no nuclear material when the U.N. watchdog last visited. Jordan later summoned Iran's charge d'affaires to protest, state-run television reported. Israel's military said Iranian missiles launched toward the Jordanian port city of Aqaba just across the border could spill over, warning Israelis to expect the first air-raid sirens in weeks. Eilat, the Israeli city that neighbors Aqaba, cited security officials as saying two interceptors were launched from its outskirts to prevent the fall of debris. During the latest fighting, Iran has focused attacks on U.S.-allied Arab states rather than Israel, which launched the war with the U.S. on Feb. 28. "We are prepared to immediately resume combat," the Israeli military chief of staff, Lt. Gen. Eyal Zamir, said. Kuwait said one of its power and water desalination plants was attacked for the second time in two days, causing fires. Its Ministry of Electricity, Water and Renewable Energy said the power grid remains stable. In Kuwait, about 90% of drinking water comes from desalination. The secretary-general of the six-nation Gulf Cooperation Council, Jasem Mohamed al-Budaiwi, has accused Iran of war crimes for strikes on infrastructure and civilian facilities. International humanitarian law generally protects civilian infrastructure such as bridges and power plants from attack, but such sites can lose protections if used for military purposes. In such cases, attacks must be proportionate and minimize civilian harm. (You can now subscribe to our Economic Times WhatsApp channel) The British military's United Kingdom Maritime Trade Operations center issued a warning about the fire, saying it was unclear what sparked the blaze. Also Read: Why the Strait of Hormuz is losing importance The US military has been encouraging ships to use a route near Oman to transit the Strait of Hormuz. Iran has responded with attacks targeting those vessels, insisting it must have control over the crucial waterway through which a fifth of all oil and natural gas traded once passed in peacetime. The United States began a new round of airstrikes early Monday targeting Iran after announcing the death of another American service member, and Iran fired missiles toward Jordan that risked widening the conflict into neighboring Israel. Step by step, the US and Iran have inched closer to all-out war as last month's interim deal meant to permanently end the fighting has crumbled and shipping traffic in the Strait of Hormuz has largely stalled. Both sides have targeted civilian infrastructure relied on by millions of people. The US military said the service member was killed in Iraq on Saturday during the "controlled detonation" of a downed Iranian drone. Earlier, the military said its strikes targeted Iran's paramilitary Revolutionary Guard to retaliate for Friday's killing of troops in Jordan. One service member was missing after that attack, and the military's new statement said "unidentified remains" were found Sunday and were being examined. Since the war began, 17 U.S. service members have been killed. Also Read: US and Iran exchange strikes as they struggle over Strait of Hormuz The renewed exchanges of fire, now in their second week, have seen the U.S. target bridges and electrical facilities in Iran. The US military's Central Command announced a new round of strikes early Monday, now into their ninth straight night. "The strikes will continue degrading Iranian military capabilities used to attack commercial vessels and civilian mariners transiting the Strait of Hormuz," Central Command said in a statement. Tehran has retaliated by hitting U.S.-allied countries throughout the Middle East. Bahrain, Jordan and Kuwait again activated air defenses for incoming Iranian drones and missiles. Israel warned that missiles launched toward neighboring Jordan could cause fire to spill over into Israeli territory for the first time in weeks. Iran says a nuclear site under construction was hitFootage released Sunday by the U.S. military appeared to show strikes carried out by fighter jets and by Tomahawk cruise missiles launched from the sea. One target site appeared to be in a valley of a mountainous region. The Guard often has missile bases and other military equipment tucked into mountain ranges. Iran's atomic energy agency said U.S. strikes targeted the construction site of a planned nuclear power plant in the southwest, state television reported. Satellite images from Planet Labs PBC of the Darkhovin nuclear plant site showed earth clearing but little construction as of July 9. Iran did not previously announce it as being targeted. The International Atomic Energy Agency said the site, in the "very early stages of construction," contained no nuclear material when the U.N. watchdog last visited. Jordan and nearly every Gulf Arab state have been targetedJordan's military said it shot down several Iranian missiles. The country hosts major U.S. bases and relies on U.S. air-defense systems. The missiles did not cause casualties or damage, according to Jordan's military. Jordan later summoned Iran's charge d'affaires to protest, state-run television reported. Israel's military said Iranian missiles launched toward the Jordanian port city of Aqaba just across the border could spill over, warning Israelis to expect the first air-raid sirens in weeks. Eilat, the Israeli city that neighbors Aqaba, cited security officials as saying two interceptors were launched from its outskirts to prevent the fall of debris. During the latest fighting, Iran has focused attacks on U.S.-allied Arab states rather than Israel, which launched the war with the U.S. on Feb. 28. "We are prepared to immediately resume combat," the Israeli military chief of staff, Lt. Gen. Eyal Zamir, said. Kuwait said one of its power and water desalination plants was attacked for the second time in two days, causing fires. Its Ministry of Electricity, Water and Renewable Energy said the power grid remains stable. In Kuwait, about 90% of drinking water comes from desalination. The secretary-general of the six-nation Gulf Cooperation Council, Jasem Mohamed al-Budaiwi, has accused Iran of war crimes for strikes on infrastructure and civilian facilities. International humanitarian law generally protects civilian infrastructure such as bridges and power plants from attack, but such sites can lose protections if used for military purposes. In such cases, attacks must be proportionate and minimize civilian harm. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel) Explore More Stories

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Dubai: A ship caught fire early Monday in the Strait of Hormuz near the coastline of Oman, the British military said. The British military's United Kingdom Maritime Trade Operations center issued a warning about the fire, saying it was unclear what sparked the blaze. Also Read: W…

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Jul 23, 2026strikeUnverifiedUSIranProxy

UK ‘ready to defend itself’ after Iranian threat over US bases

○ 1 source

The government has said the UK is “ready to defend itself” after Iran’s military warned that any bases being used by the US were “legitimate targets”. The UK has allowed the US to launch “defensive” operations from British bases hosting American planes since the start of its war on Iran but has refused to help in offensive operations.

That policy has not been altered by the new prime minister, Andy Burnham, who was notified last week that a decision had been made to extend the agreement with the US. Iran’s Islamic Revolutionary Guard Corps said on Thursday that “any base used for aggression against Iranian territory constitutes a legitimate target for our forces”.

In a statement published on the IRGC-linked Tasnim news agency, the group said American bombing missions had been launched from RAF Fairford in Gloucestershire two days earlier. The statement came after the US carried out a 12th consecutive night of strikes against targets in Iran.

The Ministry of Defence has not commented on whether Fairford was used by the US for operations against Iran this week. The IRGC also accused the “British monarchy regime” of causing being the “primary cause of hardships in our region with a black record of partitioning Islamic nations, widespread massacres, imposing despotic regimes, and organising the occupation of Palestine”.

It warned the government “not to weigh down its record any further”. A spokesperson for the British government said: “Our armed forces are ready to keep the United Kingdom safe from any kind of attacks, whether it’s on our soil or from abroad. The UK stands ready 24/7 to defend itself.

“This includes through operating a layered approach to air and missile defence, provided by Royal Navy, British Army and Royal Air Force assets equipped with a range of advanced capabilities, working closely with our Nato allies. “We are committed to defending our people, our interests and our allies, acting in accordance with international law and not getting drawn into the wider conflict.

” On 1 March a drone struck the RAF base at Akrotiri in Cyprus, hitting a hangar, and prompting a partial evacuation of the facility. On 19 March, Iran fired two ballistic missiles at the UK’s Diego Garcia base in the Chagos Islands. One reportedly failed mid-flight, while the other was shot down by a US airship.

Iran has launched strikes against countries in the Gulf that house US military bases, including Bahrain, the United Arab Emirates and Kuwait, killing American service personnel in some of the attacks. Donald Trump said Iran would “pay a big price” for killing US troops.

On Thursday afternoon, the US president said he was considering ordering a “massive attack” on Iran. “I am close to making a decision,” he told Axios. “We’re all set for it.” He said he believed Iran’s leaders “want to negotiate”, but aren’t yet ready to make a deal.

In another sign of the conflict potentially escalating, Yemen’s Iran-backed Houthi rebels said they attacked two Saudi oil tankers in the Red Sea on Thursday, as oil topped $100 a barrel.

Hayden Vernon

Jul 23, 2026strikeUnverifiedUSIranProxyRussia

Oil Prices Soar as US-Iran Conflict Expands to Red Sea

○ 1 source

September WTI crude oil (CLU26) on Thursday closed up +5.36 (+6.17%), and September RBOB gasoline (RBU26) closed up +0.0793 (+2.44%). WTI crude oil prices (CLU26) rallied more than +6% on Thursday after the Iran-backed Houthis launched a missile and drone attack on two Saudi Arabian oil tankers in the Red Sea, expanding the oil disruptions beyond the Strait of Hormuz and threatening oil shipments in the Red Sea.

Sep Brent crude oil prices (CBU26) on Thursday rallied above $100 per barrel for the first time since May. President Trump said in an interview with Axios on Thursday that he is considering a “massive attack” that would be “bigger than ever before” and is “close to making a decision on it.

”Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis. The Houthis have vowed to blockade shipping linked to Saudi Arabia and warned shipowners against calling at the nation's ports. The move threatens Saudi oil exports from Yanbu, a Red Sea hub that the Saudi's are using to ship crude since the war brought shipping through the Strait of Hormuz to a near halt.

Meanwhile, the US and Iran exchanged attacks for the 12th straight day, and the US maintained its blockade of Iranian oil shipments in the Persian Gulf. Global crude oil supplies are tightening due to reduced flows through the Strait of Hormuz. The International Maritime Organization warned last Wednesday that it is too dangerous to cross the Strait of Hormuz at the moment, and visible transit through the strait has fallen sharply as Iran continues targeting tankers attempting to transit it.

Crude prices also have support as Ukraine intensifies drone attacks on Russian oil infrastructure. Russian crude production fell to 8.928 million bpd in June, the lowest in 2.5 years, according to monthly OPEC data. According to EA Analytics, Russian crude-processing rates will average 3.

51 million bpd in July, the lowest in 24 years, amid damage to Russian energy infrastructure caused by drone and missile attacks from Ukraine. According to Bloomberg, Ukrainian forces have attacked Russian fuel-producing facilities more than 50 times this year, hitting at least 24 of Russia’s 34 largest refineries.

As of the end of June, around 90% of Russian regions have imposed some form of fuel rationing or reported supply issues, as refining capacity has plunged following damage to facilities. The strikes have deepened a nationwide gasoline shortage, with several major refineries shut down and the government banning almost all gasoline, jet fuel and diesel exports.

Russia is the world’s number two diesel exporter, after the US, according to Vortexa. Stronger Russian crude exports are also adding to global oil supplies, which is bearish for prices. Data compiled by Bloomberg show the four-week average of Russian crude exports rose to 4.

13 million bpd through June 28, the highest since Russia invaded Ukraine in 2022. Russia may be boosting its crude exports as the country’s refining capacity has plunged due to damage at its refining facilities from Ukraine drone and missile attacks.

The outlook for higher US crude output is negative for oil prices. The Department of Energy (DOE) on July 7 raised its US 2026 crude production estimate to 13.78 million bpd from a June estimate of 13.72 million bpd. As a bearish factor for crude, OPEC delegates said on May 14 that the cartel aims to continue a series of oil quota increases over the next few months, completing the return of halted oil production by the end of September.

The group already formally agreed to restore about two-thirds of the 1.65 million bpd supply cutback it made back in 2023 and said it plans to raise output targets further and to revive the final portion in three more monthly stages. On July 5, OPEC+ said it will boost its crude output by 188,000 bpd in August, though that increase might prove difficult due to revived US-Iran military attacks in the region.

OPEC’s June crude production rose by +2.34 million bpd to 18.75 million bpd. Vortexa reported on Monday that crude oil stored on tankers that have been stationary for at least 7 days rose +31% w/w to 90.03 million bbl in the week ended July 17. Wednesday’s weekly EIA report was mostly negative for crude oil and products.

EIA crude inventories unexpectedly rose +2.01 million bbl versus expectations of a -1.95 million bbl decline. Also, EIA gasoline supplies rose by +765,000 bbl versus expectations of a -1.9 million bbl decline. In addition, EIA distillate stockpiles rose by +1.

4 million bbl, a larger build than expectations of +825,000 bbl. On the positive side, crude supplies at Cushing, the delivery point for WTI futures, fell -624,000 bbl. Wednesday’s EIA report showed that (1) US crude oil inventories as of July 17 were -5.

3% below the seasonal 5-year average, (2) gasoline inventories were -7.1% below the seasonal 5-year average, and (3) distillate inventories were -9.6% below the 5-year seasonal average. US crude oil production in the week ending July 17 fell -0.5% w/w to 13.

798 million bpd, just below the record high of 13.862 million bpd posted in the week of November 7. Baker Hughes reported last Friday that the number of active US oil rigs in the week ended July 17 rose by +7 to a 13-month high of 452 rigs, up from the 4.

25-year low of 406 rigs posted in December 2025. However, the number of US oil rigs remains sharply below the 5.5-year high of 627 reported in December 2022. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article.

All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Barchart

Jul 23, 2026strikeUnverifiedUSIsraelIran

IDF to deal 'crushing blow' to Iran, if it attacks Israel — Ynet

○ 1 source

TEL AVIV, July 23. /TASS/. The Israel Defense Forces (IDF) will deal "a crushing blow" to Iran, if it attacks the Jewish state, Defense Minister Israel Katz warned, according to the Ynet portal. "We are ready for any development of events. If Iran attacks Israel, we will deal a crushing blow," he said.

Earlier on Thursday, US President Donald Trump said that he was considering carrying out a massive attack on Iran, and the strikes would be harder than before. According to the American leader, Israel will "join the attack in two minutes" if requested by the United States.

However, he added that Washington "does not need anyone" to launch a new military operation. Trump did not specify a deadline for making a decision. The United States and Israel started a war with Iran on February 28. In June, Washington and Tehran signed a memorandum of understanding providing for an immediate cessation of hostilities on all fronts, including in Lebanon.

However, on the night of July 8, the United States resumed large-scale strikes against Iran, accusing it of violating the terms of the agreements regarding the Strait of Hormuz.

CurrentsAPI

Jul 23, 2026strikeUnverifiedUSIsraelIran

UK 'ready to defend itself' after Iran says bases are 'legitimate targets'

○ 1 source

The British government stated that it stands ready to defend itself following Iranian comments designating UK bases hosting US forces as legitimate targets in response to US military strikes on Iran. Iranian officials described the UK as an accomplice to US operations, while UK policy has allowed US use of bases such as RAF Fairford and Diego Garcia for what the UK has termed defensive purposes.

Permissions for this arrangement, first granted in March, were extended under the current UK government.

Location: Iran

Sean Seddon