US renews strikes on Iran, threatening interim deal to end war

What This is

• After attacks on commercial shipping in the Strait of Hormuz, President Donald Trump said the interim ceasefire and memorandum of understanding with Iran were over.
• U.S. Central Command said it hit roughly 80–90 Iranian military targets in the renewed wave of strikes, focusing on air defenses, radars, coastal surveillance, anti-ship missile sites, drones, and IRGC boats tied to threats against shipping.
• Iran retaliated with missile and drone attacks aimed at countries hosting U.S. forces, including Bahrain, Kuwait, Qatar, and Jordan, triggering sirens and interceptions and causing some injuries and damage.
• Iran’s Health Ministry reported at least 14 people killed and 78 injured from two days of U.S. strikes, while U.S. accounts say the operation targets military capabilities rather than broad infrastructure.
• Several reports described strikes and explosions near Bushehr province, with Iranian officials saying a strike hit near the Bushehr nuclear power plant while the U.S. has denied involvement in some later reported blasts.
• Shipping through the Strait of Hormuz has sharply slowed, with some tanker traffic near a standstill and some vessels turning off tracking signals as security risks rise.
• Marine war-risk insurance costs spiked after the renewed fighting, and some ship owners have avoided the route, leaving vessels delayed or stranded.
• Oil prices rose on fears of supply disruption through Hormuz, and market moves also hit stocks and raised worries about higher gasoline prices.
• Despite the strikes and Trump’s public statements, mediators and U.S. officials say technical talks with Iran are continuing to try to revive or rebuild the June 17 understanding.
• Israel reportedly shared intelligence about a new Iranian plot to assassinate Trump, a claim U.S. agencies had not independently verified, adding to tensions during the renewed fighting.

Why This Matters

• The Strait of Hormuz is a main route for global oil and gas, so fighting there quickly raises energy costs and squeezes household budgets far beyond the region.
• Strikes and reprisals increase the risk of a wider regional war by pulling in Gulf states that host U.S. forces and by creating more chances for miscalculation.
• Even short disruptions can trigger knock-on effects, including higher shipping and insurance costs, delays in trade, and volatility in stock and bond markets.