President Trump has ordered new military strikes on Iran following an escalation that includes an Iranian drone attack on Kuwait and missile strikes on U.S. forces in Jordan. Iran, claiming retaliation for a U.S. strike that killed civilians, also announced the closure of the Strait of Hormuz, which the U.S. disputes despite a drop in traffic. The conflict has pushed Brent crude to $88.50 and prompted Saudi Arabia to form a new regional maritime coalition.
Iranian military strikes
- ▪Iran claims its IRGC "suicide drones" struck fighter jet shelters, satellite communication systems, and equipment warehouses at Ahmad Al Jaber Air Base in Kuwait
- ▪Kuwait's air defenses detected and destroyed Iranian drones
- ▪Iran's military announced it struck Kuwait in retaliation for a U.S. attack on Wednesday that reportedly killed two adults and their toddler
- ▪Iran launched missile attacks earlier in the week against US forces in Jordan, ending a multi-day pause in fighting
- ▪President Trump stated he is losing confidence in Iranian negotiators during a Cabinet meeting on Friday, July 31, 2026
- ▪President Donald Trump has ordered the US military to carry out a new attack on Iran as soon as this weekend
Strait of Hormuz shipping disruption
- ▪Iran's Persian Gulf Strait Authority stated on Friday that "transit through the Strait of Hormuz is not possible."
- ▪U.S. CENTCOM disputed Iran's claim, stating on X that the Strait of Hormuz remains open for commercial vessel transit
- ▪Shipping tracker Kpler reported that commercial crossings in the Strait of Hormuz dropped from 22 on Wednesday to 5 on Thursday
U.S. infrastructure targeting campaign
- ▪During July, the U.S. hit at least six bridges and tunnels surrounding the Iranian port city of Bandar Abbas
- ▪The Pentagon is "rethinking the scope of its footprint" in Kuwait, according to U.S. officials cited by the Wall Street Journal
- ▪The U.S. campaign in July also damaged communications lines, a rail station, and a desalination plant in Iran
Regional coalition formations
- ▪Saudi Arabia announced the formation of a maritime coalition to confront Yemen’s Houthi rebels
- ▪Pakistan, Turkey, Egypt, Sudan, and ten other countries have confirmed their participation in the Saudi-led coalition
Oil market impacts
- ▪Oil giants Exxon and Chevron both posted record profits during the second quarter, largely as a result of Iran War-related energy shocks
- ▪The price of Brent Crude oil was $88.50 per barrel on Friday, July 31, 2026
- ▪AAA reported the national average price of gas at $4.11 per gallon
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