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US and Iran Trade Strikes as Hormuz Crisis Deepens

July 13, 2026
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The US and Iran exchanged multiple rounds of military strikes, casting doubt on the fragile June ceasefire. The US struck dozens of Iranian targets. Iran retaliated by attacking US bases in Bahrain, Kuwait, and Jordan. Both sides assert control over the Strait of Hormuz. Oil prices surged above 9 and Asian markets plunged. Trump declared the ceasefire over, though mediators continue diplomatic efforts. The crisis has global implications for energy markets and regional stability.

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