U.S. and Iran both say they control the Strait of Hormuz amid attacks that threaten return to all-out war and global economic upheaval
- Posted on July 13, 2026
- By Fortune
- 0 Views
- 1 min read
In brief
Tensions escalate in the strategic Strait of Hormuz as both Washington and Tehran assert territorial control amid escalating military incidents. With approximately 30 days remaining in their 60-day ceasefire negotiation window, recent attacks have intensified concerns about the fragility of diplomatic efforts. The situation poses significant risks to global energy security and threatens to reignite full-scale regional conflict, with potential economic repercussions affecting worldwide oil markets and geopolitical stability.
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U.S. and Iran both say they control the Strait of Hormuz amid attacks that threaten return to all-out war and global economic upheaval
Iran and the U.S. are nearly halfway through the 60-day period to end the war, but renewed attacks raise fears about whether that will actually happen.
