Global Developments as Tensions Escalate Between US and Iran
As conflicts between the US and Iran spill over to the Strait of Hormuz and bases in Jordan, the barrel price of Brent crude has exceeded 100 dollars.
While US President Donald Trump sought support at a convention in Dallas, escalating conflicts between the US and Iran and ship attacks in the Strait of Hormuz impacted the markets.
Republican Convention in Dallas
US President Donald Trump sought support from his party for the November elections at a convention held at the American Airlines Center in Dallas. Asking voters to treat the process as if they were voting on him, Trump stated that a potential Democratic victory would harm the country and promised a 5,000 dollar per capita dividend to those who win the election.
Rising Military Tensions with Iran
US President Donald Trump warned Iran due to activities at Pickaxe Mountain, located near the Natanz uranium enrichment facility. Stating that they would respond very harshly if necessary, Trump expressed that the war might end after the November elections, while his advisors warned that this situation could last throughout his presidency.
Attack on the Jordan Base
Numerous US military aircraft were damaged in suspected nighttime attacks on the Muwaffaq Salti Air Base in Jordan. The Jordanian administration announced that air defense systems intercepted 18 out of 20 missiles from a wave of missiles fired by Iran toward the base.
Strait of Hormuz and the Oil Market
Within the scope of the parties' conflicts, ten ships, including two US ships and eight oil tankers, were targeted near the Strait of Hormuz. The US military reported destroying five Iranian oil tankers, and as a result of the ongoing conflict and shipment losses, the barrel price of Brent crude rose above 100 dollars.
Other Events on the World Agenda
Within the scope of global developments, at least 5 people lost their lives, 87 people went missing, and 42 people were rescued on a burning ferry in the Philippines. In a US attack targeting narco-terrorists in the Caribbean Sea, three people died; in Yemen, the Houthis stated that Saudi-backed forces launched airstrikes.