The United States and Iran exchanged missile and drone strikes overnight into Monday, July 13, following previous attacks on Sunday [1, 2].
These escalations threaten one of the world's most critical oil transit chokepoints. The instability in the Persian Gulf region risks disrupting global energy markets and commercial shipping lanes.
Both nations said they are retaliating for attacks on military facilities and commercial shipping [1, 2]. The U.S. military targeted hundreds of Iranian military sites [1]. The strikes are part of a broader effort by both sides to apply pressure on the opponent through military force [1, 2].
A central point of contention remains the status of the Strait of Hormuz. There are conflicting declarations over whether the waterway is open to shipping [1]. However, Iran said the Strait of Hormuz is closed [2].
This tension follows a U.S. intelligence assessment from June 16, 2026, which stated that Iran has the capability to shut down the Strait at will [3]. The potential for a complete blockade has led to economic discussions regarding maritime security. The United States has proposed a 20% security surcharge for shippers [4].
The strikes occurred across the Strait of Hormuz and surrounding Gulf states [1, 2]. Both sides continue to trade accusations regarding the initiation of the current wave of violence, with each side citing the other's interference with shipping as the primary catalyst [1, 2].
“The United States and Iran exchanged missile and drone strikes overnight into Monday.”
The disagreement over the operational status of the Strait of Hormuz suggests a shift from tactical military skirmishes to a strategic economic blockade. By targeting hundreds of sites and proposing security surcharges, the U.S. is attempting to offset the risk identified in its June intelligence report. If Iran maintains that the Strait is closed, the resulting increase in shipping costs and insurance premiums could trigger a global spike in energy prices.
