US strikes Iranian targets, nearly 100 soldiers injured since July: Pentagon

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US strikes Iranian targets, nearly 100 soldiers injured since July: Pentagon

Strait of Hormuz traffic normalization

by
Estefano Gomez

Jul. 21, 2026

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The ongoing conflict between the United States and Iran has intensified, with the US launching new strikes against Iranian targets. According to the Pentagon, nearly 100 American soldiers have been injured since early July. This escalation forms part of a broader conflict that reignited after a ceasefire collapsed earlier this month. Iran has responded by damaging two tankers in the Strait of Hormuz, a critical passage for global oil shipments, prompting fears of further disruption in the region.

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Key Takeaways

• Market pricing suggests a decreased likelihood of traffic normalization in the Strait of Hormuz by August 31, consistent with ongoing military tensions.
• The probability of a US invasion of Iran appears supported by recent military escalations, reflecting increased likelihood in market pricing.
• Observers note that further developments in US-Iran relations could significantly influence market expectations and pricing.

What to Watch

Further actions by key political and military actors, such as US President Donald Trump and Iranian Supreme Leader Ayatollah Ali Khamenei, will be crucial. Any diplomatic developments or additional military engagements could shift current market pricing. Watch for official statements or actions that might indicate a move towards de-escalation or further aggression, as these will impact the likelihood of normalization in the Strait of Hormuz and the potential for US military action against Iran.

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Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.