BY TYLER DURDEN
TUESDAY, JUL 07, 2026 – 09:10 PM
Summary:
- US strikes on Iran announced, as ‘heavy costs’ for earlier targeting of multiple commercial vessels
- Oil rises as Treasury revokes June 21 Iran oil waiver
- Hormuz Threat Level Raised To "Severe"
- Three maritime incidents reported on Hormuz in last 24 hours
- Another unidentified vessel hit by a Drone
- IRGC forces hit a Saudi Tanker
- IRGC forces hit a Qatari LNG tanker
US officials are vowing bigger, more sustained and prolonged strikes against Iran tonight, according to the latest being reported in CNN and Axios:
The U.S. has launched a significantly expanded wave of airstrikes on Iran that is four to five times larger than the strikes carried out 10 days ago, a U.S. official told Axios. The official said the operation is expected to continue for hours.
Iran state media is meanwhile reporting on an initial retaliation by its forces (though not initially confirmed in other international sources):
Iran fires several anti-ship missiles and drones towards US Navy warships in the Sea of Oman, Fars reports
More from state media on what could be mounting civilian casualties:
The state broadcaster reports that “most of the attacks” by the US in southern Iran have “targeted civilian areas”. This comes as the US claims its military hit Iranian missile and defence systems in its latest attacks.
Source
https://www.zerohedge.com/geopolitical/qatari-lng-tanker-hit-iranian-missile-hormuz-chokepoint