U.S. carries out 12th straight night of strikes as threats to oil trade deepen

U.S. Forces conducted a 12th consecutive night of strikes against Iran. According to U.S. Central Command, the mission targeted "maritime capabilities, missile and drone storage facilities, coastal surveillance sites, and air defense assets." The military stated these operations aim to degrade Iran’s capacity to threaten civilian mariners and commercial shipping transiting regional waters.

In the Red Sea, the vessel ENCELIA, owned by a Saudi company, sustained fire at its bow after being targeted by an unknown projectile. This incident occurred shortly after Yemen’s Houthi rebels claimed responsibility for an operation against two commercial oil tankers in the same waterway. The Houthis have previously signaled a maritime embargo against Saudi Arabia.

U.S. Central Command reported that since 14 July 2026, it has redirected nine commercial vessels and disabled one. Iran’s Revolutionary Guard confirmed it halted three oil tankers, claiming one exploded after hitting a mine-laid route. Iranian officials have maintained that the strait is under their control and warned that any ship attempting passage without coordination with the Islamic Republic will face similar risks.

Iraq reports losses exceeding $40 billion in revenue since the onset of the conflict, as its ability to export oil has been severely hampered by the blockade of the Strait of Hormuz. Iraqi Oil Minister Bassem Mohammed Khudair noted that the country has been forced to halt production at most of its oil fields, shifting limited exports to routes through Turkey and Syria. Brent Crude prices rose to $95 per barrel early Wednesday, marking a $20 increase since the resumption of strikes on 7 July 2026.

The House of Representatives recently adopted a $95 billion budget proposal intended to fund the conflict and other presidential priorities. President Donald Trump, speaking at a rally in Marietta, Georgia, characterized the conflict as a skirmish and asserted that domestic production allows the U.S. To bypass the necessity of the Strait of Hormuz, though he emphasized the military posture is essential to prevent Iranian nuclear development.

The Pentagon’s Defense Casualty Analysis System indicates that 18 American service members have died, with at least 482 wounded in action. President Trump attended a dignified transfer at Dover Air Force Base for four service members killed in recent days, including soldiers who died at the Muwaffaq Salti Air Base in Jordan and Erbil Air Base in Iraq. Separately, the Iranian Ministry of Health reported that strikes between 27 June and 22 July 2026 resulted in 53 deaths and 592 injuries within Iran.

The European Union's Aviation Safety Agency has issued warnings for airlines to avoid Jordanian airspace due to a rapid increase in kinetic military activity. Italy is scheduled to host a seventh round of negotiations between Israel and Lebanon on 4 August 2026. Iranian Parliament Speaker Mohammad Bagher Ghalibaf signaled a hardline stance, warning on social media that no infrastructure will be safe if the U.S. Proceeds with threats to target Iranian bridges or power plants, adding,

"In the region where we do not sell oil, no one else will sell oil either."

Mohammad Bagher Ghalibaf, Iranian Parliament Speaker, via X

Iranian Foreign Minister Abbas Araghchi further stated that any aggression against Iranian infrastructure would trigger a decisive response, naming those who support such actions as legitimate targets. As military and diplomatic channels remain deadlocked, maritime analytics firm Kpler reported that multiple ships have reversed course to avoid the Bab al-Mandab strait.