US Expands Social Media Vetting to Foreign Journalists Seeking Visas 
Trump Administration Weighs Executive Order on Vaccines and Autism Research 
US Expects Iran-Oman Hormuz Shipping Deal Soon 
North Korea May Deploy 120 Missiles to Russia 
US Dollar Falls as Weak July Jobs Report Dents Fed Rate Hike Bets 
New Zealand MMP Electoral System Faces Fresh Referendum Debate 
Asian Stocks Cautious Ahead of US Jobs Data as Oil Rises 
Trump Orders Probe Into Pentagon Munitions Stockpile Leaks After Iran Conflict 
Oil Prices Slip as Hormuz Shipping Progress and Rising U.S. Crude Stocks Weigh on Market 
Gold Prices Surge 7% as Dollar Falls, Fed Rate Hike Bets Ease 
Russian Strikes Kill Six in Eastern and Northern Ukraine, Dozens Injured 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
US Job Growth Seen Picking Up in July 
Trump Unveils $3 Billion U.S. Critical Minerals Push 
Ukraine Agrees to Protect Kazakhstan Oil Exports via Black Sea 
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge 
The fragile ceasefire between the United States and Iran faced its toughest challenge yet after both sides exchanged fire near the Strait of Hormuz on Thursday, raising fresh concerns over Middle East stability and global oil supplies. Despite the confrontation, officials from both countries signaled they were not seeking a wider escalation.
Iran’s military accused the U.S. of violating the ceasefire agreement by attacking two vessels near the Strait of Hormuz and launching strikes on Qeshm Island as well as coastal areas including Bandar Khamir and Sirik. Tehran claimed it retaliated by targeting U.S. naval vessels operating east of the strategic waterway and near the port of Chabahar.
The U.S. Central Command confirmed that Iranian forces launched missiles, drones, and small boats against three American destroyers. Washington said it responded by striking Iranian missile and drone positions. However, CENTCOM stated that no American assets were damaged and emphasized that the U.S. “does not seek escalation” while remaining prepared to defend its forces in the region.
Former President Donald Trump attempted to downplay the incident, insisting the ceasefire remained active while noting that U.S. forces had responded decisively. Trump also confirmed that negotiations with Tehran were continuing despite the renewed hostilities.
The latest military exchange comes as Washington awaits Iran’s response to a proposed framework aimed at formally ending the conflict. The proposal reportedly leaves unresolved critical disputes surrounding Iran’s nuclear program and the reopening of the Strait of Hormuz, a vital energy corridor responsible for transporting nearly 20% of the world’s oil and gas supplies before the conflict erupted.
Oil markets reacted quickly to the tensions, with U.S. crude prices jumping as much as 3% during Asian trading hours. American gasoline prices have surged more than 40% since February due to disruptions in shipping routes through the Strait of Hormuz, intensifying concerns over inflation and energy costs worldwide in 2026.
