US Continues Strikes; Iran Targets Oil Tanker in Escalating Conflict

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By : Lowell Hagan


Updated: July 14, 2026 • 13:18 PM

Overnight, the USA launched further attacks against Iran which responded by targeting oil tankers. Amidst these escalations, President Trump advocates for a substantial toll on the Strait of Hormuz’s transit rights.

Strategic Movements in the Strait of Hormuz

The US military, for the third consecutive night, has aimed its firepower at Iranian targets, as confirmed by Centcom on the social platform X. Iranian media report explosions along the southern coast including the Kish Island in the Persian Gulf, as well as near the port city of Bushehr and Bandar Abbas.

Iran’s Retaliatory Measures

Iran has not remained silent, launching counterattacks including missile and drone strikes in Bahrain, targeting several arms depots, a satellite communication center, and a residential building at a US military base. Further exacerbating the tensions, Iranian forces attacked two Emirati oil tankers in the Strait of Hormuz, resulting in one casualty and several injuries.

Global Repercussions and Economic Assertions

In response to these incidents, President Trump has announced the imposition of a 20% toll on the cargo value of ships navigating through the Strait of Hormuz. This decision, articulated during a radio interview, aims at compensating for the costs associated with securing the passage. He justified the continuous assaults as measures to hinder Iran’s capability to threaten innocent civilians and disrupt maritime traffic.

Meanwhile, the international community, including the International Maritime Organization (IMO), has voiced strong opposition against any form of toll on international waters, asserting that such demands lack legal standing and undermine maritime freedom.

Further Developments

Amid these escalations, the Dutch logistics company Stolt Tankers reported that one of its vessels, the Stolt Magnesium, was also targeted off the coast of Oman. Fortunately, all crew members are safe, although the attack triggered a fire in the ship’s engine room.

The Iranian Revolutionary Guard has taken responsibility for hitting two supertankers after they allegedly ignored multiple warnings and turned off their navigation systems. This act is seen as Tehran’s stance against what it perceives as provocations orchestrated by the US.

These ongoing conflicts highlight the fragile security situation in one of the world’s most vital maritime routes, affecting global oil markets and escalating international tensions.

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