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US launches third airstrike on Iran after Iranian attack closes Strait of Hormuz to shipping

Market News
11 Jul 2026
CNBC
View Source
Bearish
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The US military conducted a third round of airstrikes against Iran following an Iranian attack on the container ship M/V GFS Galaxy in the Strait of Hormuz, which caused significant damage and a missing crew member. In response, Iran's Islamic Revolutionary Guard has closed the strait to all ship traffic indefinitely, escalating tensions. The US aims to degrade Iran's ability to threaten commercial shipping and maintain energy flow from the Gulf. Diplomatic talks continue, with Oman mediating and proposals being studied by France and the UK to manage navigation fees without compulsory tolls, under international maritime regulations.

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