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ConflictUS-Iran ceasefire collapses as Trump reinstates Strait of Hormuz blockade, orders new strikes
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The ceasefire between America and Iran has effectively collapsed after President Donald Trump reinstated a blockade of Iranian vessels in the Strait of Hormuz and ordered fresh military strikes to degrade Iran's ability to attack commercial shipping. In response, Iran continued targeting regional countries, including Kuwait and Jordan, and struck two United Arab Emirates' oil tankers with cruise missiles. America hit a tanker heading towards Kharg island, Iran's main oil-export hub. Trump briefly raised the possibility of charging a 20% fee on ships traversing the strait but quickly backed down. The escalation caused oil prices to jump significantly. The article, published in The Economist's July 18th 2026 edition, highlights the rapid deterioration of the fragile truce and the heightened risk to global energy supplies.
Source report
The ceasefire between America and Iran has all but collapsed, following a series of escalating military actions.
- Donald Trump reinstated a blockade of Iranian vessels in the Strait of Hormuz and ordered fresh strikes to degrade Iran’s ability to attack commercial shipping.
- Iran continued to target countries in the region, including Kuwait and Jordan, and struck two United Arab Emirates’ oil tankers with cruise missiles.
- America hit a tanker heading towards Kharg Island, Iran’s oil-export hub.
- Mr Trump raised, and then quickly backed down from, the possibility of America charging a 20% fee on ships that traverse the strait.
Oil prices jumped in response to the renewed hostilities.
This article appeared in the The world this week section of the print edition under the headline “Politics”
From the July 18th 2026 edition
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US-Iran Ceasefire Collapses as Strait of Hormuz Blockade Disrupts Global Energy Markets