In the latest salvo in one of the war’s deadliest months, Russia hits Kyiv with ballistic missiles and 121 drones.
![A person stands in shallow water as cargo and commercial vessels are anchored in the Strait of Hormuz off Bandar Abbas, Iran, on June 8, 2026 [Amirhosein Khorgooi/ISNA via AP]](https://aljazeeranews-mggx1uo47w.edgeone.app/wp-content/uploads/2026/07/ap_6a48491c701c5-1783122204.jpg?resize=770%2C513&quality=80)
Travel stocks plunged as fuel costs rise, United Airlines fell 3 percent, while energy stocks saw gains.
Brent crude rises above $76 a barrel for the first time in two weeks amid renewed violence in Strait of Hormuz.
While marine traffic in Hormuz has steadily risen, vague provisions on the strait remain contentious in peace talks.
Seven OPEC+ members, including Saudi Arabia and Russia, to increase output by 188,000 barrels per day.
Dmitry Medvedev says Iran’s ability to disrupt traffic in the Strait of Hormuz is equivalent to possession of a nuclear.
Kyiv’s drones disrupt St Petersburg internet and flights as Russian strikes halt a gas facility in central Ukraine.
Ottawa says future pipeline will reduce economic dependence on the US amid Donald Trump’s trade war.
Military command issues threat a day after Qatari mediators hailed ‘positive progress’ in indirect US-Iranian talks.
Iranian oil shipping magnate Mohammad Hossein Shamkhani has been sanctioned by the West over his shadow fleet.
As flow resumes through the strait, an oil surplus may yet again destabilise global energy markets.
![FILE PHOTO: Vessels at the Strait of Hormuz, as seen from Musandam, Oman, [Reuters]](https://aljazeeranews-mggx1uo47w.edgeone.app/wp-content/uploads/2026/07/reuters_6a464d29-1782992169.jpg?resize=770%2C513&quality=80)