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Oil Spike, IRGC Strikes & NATO's $70B Ukraine Pledge | Jul 8-9
Audio is available on Spreaker — see link below.
The Iran ceasefire collapses, Trump threatens to close the Strait of Hormuz, and oil markets spike nearly six percent — all in 24 hours. NATO's Ankara summit locks in a binding multi-year pledge to Ukraine as the Gulf crisis deepens.
Audio is available on Spreaker — see link below.
Trump declared the Iran ceasefire over on July eighth, ordered strikes on roughly ninety Iranian military targets, and then threatened to close the Strait of Hormuz. Oil markets moved immediately.
Iran didn't wait to find out. The IRGC launched joint drone and missile attacks on US bases in Kuwait and Bahrain.
The geographic scope of US strikes has shifted. A railway bridge at Aqqala was hit, roughly nine hundred miles from the Strait.
Separate from the Gulf, the Ankara summit produced a concrete result. NATO committed seventy billion euros in military assistance to Ukraine for twenty twenty-six, with more than seventy billion planned for twenty twenty-seven.
Three things narrow the picture from here. First, does the Hormuz blockade move from threat to implementation?
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