Iran's parliament has formally tabled a bill to entrench Tehran's control over the Strait of Hormuz, with the chamber's national security chief claiming US drones were downed overnight and warning that further measures are coming.
Two supertankers were hit and disabled after transiting a mined corridor in the Strait of Hormuz, according to Iran's Revolutionary Guards, hours after Washington declared a blockade on Iranian shipping and a 20% cargo levy.
Washington will bar Iranian vessels and their customers from the Strait of Hormuz and charge a 20% levy on all other cargo transiting the chokepoint, which carries a fifth of global oil, in a sharp escalation of the US-Iran conflict.
The war between the US, Israel and Iran will continue to weigh on Latin American and Caribbean economies for the rest of 2026, even if last month's fragile ceasefire holds, the UN's regional economic body has warned.
Iran says diplomacy remains active and contacts with Pakistan, Qatar and Oman are continuing, even as it accuses the US of wrecking the ceasefire memorandum and blocking safe passage through Hormuz.
Iran says it has established a temporary safe maritime corridor through the Strait of Hormuz and notified the IMO, accusing the US of pushing vessels towards a dangerous southern route.
Iran's newly created Persian Gulf Strait Authority has declared transit through the Strait of Hormuz impossible, citing US military activity and formalising the closure of the world's most important oil chokepoint.
Iran and Oman discussed Hormuz shipping security in Muscat hours before Iran closed the strait and struck US bases and Gulf states, after CENTCOM said the US hit around 140 targets in Iran.
It is clear that the script demands ‘tensions’ will rise.
The US-Iran conflict has become a war of probabilities, with both sides deliberately randomising. The theory behind it runs from Schelling's Nobel-winning deterrence work to Nixon's madman doctrine, and it carries a flaw.
US President Donald Trump said Syria had become "very stable" and confirmed that Washington would move to remove the country from its list of state sponsors of terrorism, following its decision to lift sanctions on Damascus.
The US struck a railway bridge in Iran's Golestan province on the China-Iran-Russia rail corridor in one of the deepest US strikes inside Iran since the conflict began.
Iran's IRGC says it struck four US bases in Kuwait and Bahrain, naming Arifjan, Ali al-Salem, Jufair and Sheikh Isa, in what it called a punitive response to renewed US strikes on Iran.
Bitcoin has fallen below $62,000 as a fresh exchange of strikes between the US and Iran drives investors from risk assets, after Trump said the ceasefire was over.
Iran's chief negotiator Mohammad Bagher Ghalibaf has accused the US of major violations of the two countries' memorandum, listing strikes, oil sanctions and threats, as the ceasefire unravels.
When Lebanese and Israeli envoys signed a US-brokered framework agreement in Washington on June 26, they turned months of cautious, indirect contacts into a formal diplomatic process — the most significant opening between the two states since 1983.
Israeli insurance and clean-energy stocks fell sharply as renewed US strikes on Iran hit Tel Aviv markets, with oil up almost 7% and the shekel weakening, while Nayax dropped on a cyber breach.
US President Donald Trump has said the US-Iran ceasefire is "over" after renewed strikes, telling reporters at the Nato summit in Ankara he does not want to deal with Iran.
Iran's IRGC says it struck 85 US military targets in Bahrain and Kuwait with missiles and drones and downed an MQ-9 drone, in what it called an initial response to US strikes on Iranian territory.
The re-escalation of fighting in the Persian Gulf in the last days has reignited supply concerns, pushing oil prices higher amid questions about the direction of US-Iran peace talks, ING said in a note.