US and Iran exchange fresh round of strikes
By Abigail Townsend
Date: Thursday 09 Jul 2026
(Sharecast News) - The US has launched another round of attacks against Iran as tensions between the two countries continue to flare.
US Central Command confirmed late on Wednesday that American forces had concluded an "additional round of strikes", hitting 90 Iranian military targets. It said the attacks were intended to "further degrade Iran's ability to attack commercial shipping and innocent civilian mariners in the Strait of Hormuz".
Posting a series of photos of burning buildings shortly afterwards, Donald Trump added on Truth Social: "This in retribution for yesterday's bombing of ships by Iran. If it happens again, it will get much worse!"
In response, the Islamic Revolutionary Guard Corps said it had carried out co-ordinated missile and drone strikes against US military bases in Kuwait and Bahrain, and threatened further attacks should the US resume its attacks.
The two sides last month signed a 14-point memorandum of understanding, under which they agreed to halt fighting and reopen the Strait of Hormuz while they negotiate a permanent peace deal. But the ceasefire has proved fragile from the off, and Trump has now appeared to lose patience.
On Wednesday, speaking at the Nato summit in Turkey, Trump accused Iran of violating the interim deal and called Tehran's leaders "scum". Iran's foreign minister, Abbas Araghchi, replied on X: "We don't answer vulgarity with vulgarity, but with action: fearlessly and with great valour."
Oil prices had fallen sharply when the MoU was first signed, but have tracked higher once again in recent days. As at 0800 BST, benchmark Brent crude was trading at $77.78 a barrel - having briefly surpassed $80 overnight - and West Texas Intermediate was $73.27.
Ipek Ozkardeskaya, senior analyst at Swissquote, said: "The latest turn of events in the Middle East has reversed the short-term bearish outlook for oil prices. US crude has risen as much as 13% since last week's dip, and is now testing the $75 level...with an increasing possibility of the barrel reaching and breaching the $80 mark.
"Both are slightly lower today, but the short-term risks remain tilted to the upside."
However, Ozkardeskaya acknowledged that the immediate upside pressure could be less severe than that seen at the start of the war, primarily because the market has become accustomed to ongoing tensions and disruptions around the Strait of Hormuz.
Trump also seemed to imply that talks would continue, further helping to take the heat off commodity prices. Despite initially insisting the negotiations were a "waste of time", he later said Iran's leaders had "called a little while ago. They want to make a deal so badly." Trump was speaking to reporters on Air Force One his way back to the US from Turkey.
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