Month: July 2026

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U.S.-Iran attacks escalate, Red Sea shutdown fears rise

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‼️ 🇰🇼 🇮🇷 Kuwait said Friday that Iran attacked civilian infrastructure, including power and water desalination plants, representing a significant escalation of fighting in the region; Iran said it also launched strikes at U.S. targets in Bahrain, Jordan, Kuwait, Oman, and Qatar, as well as its first direct attack on Syria. The U.S. said it struck several bridges in Iran to disrupt supply routes to a strategic port and naval base on the Strait of Hormuz. Barclays: The renewed escalation “with inventories at the lowest levels in recent years and a majority of SPR releases behind us poses significant upside risks to energy prices”