The US has targeted military assets in the latest round of strikes against Iran
This photo taken from AFPTV video footage on July 12, 2026 shows cargo ships docked near the Strait of Hormuz off the east coast of the United Arab Emirates in Khor Fakkan.
AFPTV | Getty Images
The US has called off Iranian military strikes for the third night in a row, while Tehran hit two Emirati oil tankers in the Strait of Hormuz and issued new missile warnings to Bahrain.
US Central Command has said it has ended the latest wave of strikes against Iran. The five-hour operation targeted military forces across the country and undermined Iran’s ability to attack commercial shipping, Centcom said in a statement.
The US military has attacked Iranian coastal defense systems, missile and drone sites, and naval forces.
The military action came hours after Trump ordered the return of sanctions against Iran in effect on Tuesday at 4 pm ET, and floated a 20% tariff on ships passing through the vital waterway.
Iran retaliated with attacks against Gulf countries, including the United Arab Emirates and Bahrain on Tuesday morning.
The Ministry of Defense of the UAE on Tuesday morning said that the national tanks Mombasa and AI Bahiyah were targeted by two missiles from the Iranian cruise lane south of the strait, in Omani waters. The attack killed one member of the Indian crew aboard the Mombasa, injured eight others and caused “damage” to both tanks as a result of the fire that broke out in them.
The ministry said it will remain “at the highest level of preparedness and preparedness to deal with any threats,” and will take all necessary measures to respond to any attempts to undermine the security and stability of the country.
Bahrain, home to the US Navy’s Fifth Fleet, also came under renewed attack, and sirens sounded early Tuesday morning, according to the Associated Press, as Iran retaliated against US strikes.
Traffic in Hormuz is also slowing down as confirmed crossings drop by about 52 percent week-on-week from July 10 to 12, according to Kpler, as traffic returns to “more protective routes” – increased use of Iranian and black lanes while avoiding Oman and corridors approved by the International Maritime Organization.
Risk premiums for the Strait of Hormuz conflict are expected to rise sharply as markets react to rising tensions, according to Lloyd’s List Intelligence, as shipowners and charterers put decisions on how to navigate the waterway.
The strikes broke a ceasefire following the interim US-Iran deal signed last month, aimed at reopening the strait and halting hostilities for 60 days of talks.
Regional gains lifted Brent crude as much as 2% to $85 a barrel on Tuesday, while US West Texas Intermediate rose 2.3% to $80 amid renewed uncertainty over commercial shipments by the Hormuz tanker that carried a fifth of the world’s oil and gas before the conflict.
