July 13, 2026
United States:
US and Iran Trade Strikes, Dispute Whether Hormuz Is Open
The US and Iran exchanged fresh strikes overnight into Monday, prolonging a spate of tit-for-tat attacks at a time when the two nations offer conflicting statements over whether the Strait of Hormuz is open to shipping.
The latest wave follows a weekend escalation that saw the US launch one of its heaviest bombardments on Iran since the two nations agreed to halt hostilities, in June, while Tehran widened its retaliation on Arab states.
Europe:
Euro-Area Outlook Cut by Economists as Iran War Weighs on Region
Growth in the euro zone is set to be weaker this year than previously predicted after hostilities in the Middle East resumed, economists say.
Analysts cut their 2026 forecasts to 0.5% in a Bloomberg poll conducted July 3 to 8, according to the median of 56 estimates.
Asia:
China’s Oil Imports Poised to Recover as Stockpiling Returns
China’s crude imports look poised to recover from a months-long slump as the country relaxes fuel export curbs, raises run rates and snaps up prompt Middle East supplies, with analysts and traders forecasting a return to strategic stockpiling later this year.
The world’s second-largest economy has begun to play an increasingly vital role in balancing the global oil market.
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