By Alexander Miller, consultant in energy markets. Eurasia Business News, July 7, 2026. Article n°3024

The U.S. launched retaliatory strikes against Iran on July 7 after attacks on commercial ships in the Strait of Hormuz. The U.S. Central Command began a “series of powerful strikes,” and other outlets reported the action was in response to Iranian attacks on three vessels.

“Central Command forces have launched a series of powerful strikes against Iran so that it pays a serious price for attacking the ships,” CENTCOM said in a statement on social network X.

“The US strikes are a response to Iran’s attacks on three commercial ships passing through the Strait of Hormuz. The aggression shown by Iran was unjustified, dangerous and a clear violation of the ceasefire,” the command stressed.

The immediate trigger was reported attacks on commercial vessels transiting the Strait of Hormuz, including tankers, which sharply raised shipping-security fears. Reuters and NBC both said the U.S. response was framed as retaliation for those attacks.

According to Middle Eastern media, three tankers, including a Qatari tanker carrying liquefied natural gas and a Saudi one, came under rocket fire in the Strait of Hormuz off the coast of Oman on Tuesday. As a result of the strikes, the ships were significantly damaged.

The authorities of Qatar and Saudi Arabia believe that Iran is responsible for the strikes on ships in the Strait of Hormuz.

This kind of escalation is typically bullish for oil and supportive for gold because it raises the risk of supply disruption through a critical energy chokepoint. That fits the same day’s move in crude prices, which rose on renewed fears around Hormuz shipping.

Read also : The Private Investor Deal Evaluation Handbook

The key issue is not just the strikes themselves, but the possibility of further retaliation or disruption to Gulf shipping lanes. If the situation worsens, energy markets and global risk assets could stay volatile.

The US Treasury announced the termination of the license that allowed the delivery, sale and other operations with oil and petroleum products from Iran.

The US Treasury Department’s Office of Foreign Assets Control (OFAC) said in a statement that the decision regarding the license issued on June 21 comes into force on July 7.

Read also : The Million-Dollar Retirement Blueprint for U.S. citizens in 2026

In addition, the U.S. Ministry of Finance has published a new license that allows the completion of previously concluded agreements regarding Iranian oil by July 17.

Advertisements

Our community already has nearly 250,000 readers!

Subscribe to our Telegram channel

Follow us on Telegram, Facebook and Twitter

© Copyright 2026 – Eurasia Business News. Article no. 3024