Key facts
- The US military conducted strikes on Iran for a second consecutive day.
- Explosions were reported in Bandar Abbas, Sirik, and Bushehr province.
- US Central Command confirmed the strikes.
- President Donald Trump declared an interim agreement to end the war "over."
- Trump accused Iran of launching drones and missiles at ships.
- Brent crude oil prices rose over 5% to more than $80 a barrel.
- The IMF reduced its global economic growth forecast to 3%.
The United States conducted strikes on Iran for a second consecutive day, following earlier attacks on cargo ships in the Strait of Hormuz. President Donald Trump stated that an interim agreement to end the war was "over" and that Iran was "behaving very badly," accusing the country of launching drones and missiles at ships. Iranian state media reported explosions in the port city of Bandar Abbas, Sirik, and Bushehr province, with US Central Command confirming the strikes.
The renewed hostilities have had immediate economic repercussions. US stock markets fell on Wednesday, and Brent crude oil, the global benchmark, surged over 5% to surpass $80 a barrel. The International Monetary Fund has lowered its global economic growth forecast to 3%, citing conflict in the Middle East. Jorge León, head of geopolitical analysis at Rystad Energy, noted that tanker traffic through the Strait of Hormuz has effectively halted, indicating heightened risk perception.
In other news, Graham Platner, the Democratic nominee for the US Senate in Maine, has suspended his campaign following sexual assault allegations, which he denies. Maine Democrats have until July 27 to select a replacement candidate to face Senator Susan Collins. The family of a Mexican immigrant fatally shot by an ICE agent in Texas is calling for an independent investigation into his death, disputing the agency's claim of self-defense. President Trump also plans to ask the US Supreme Court to reconsider its ruling on birthright citizenship. French far-right leader Marine Le Pen has launched her presidential campaign after a court shortened her ban on running for office. The 80s pop singer Bonnie Tyler has died at the age of 75. A Manhattan federal court judge ordered the release of over $5 million Donald Trump owes E Jean Carroll following her civil defamation trial.