US and Iran trade fire for sixth consecutive day; Hormuz shipping falls further as Brent trades above $85
The United States and Iran exchanged fire for a sixth day running on 16 July. US strikes hit Iranian command centres and missile sites, and Iran struck US military bases in Gulf countries, as both sides stepped up operations in the confrontation over the Strait of Hormuz. A US naval blockade of Iranian ports remains in place. Shipping through the strait, which normally carries roughly 20% of the world's oil and gas, fell further over the past 24 hours from levels that were already low. Brent crude traded above $85 a barrel, more than 15% above its pre-war price, and Tehran called US interference in the strait an 'unbreakable red line'. After six days of sustained exchanges, this is clearly not a short punitive cycle. If you have regional or supply-chain exposure, treat maritime risk premiums, rerouting via the Cape and Gulf aviation disruption as the operating baseline for the coming weeks. Review regional staffing against a sustained-conflict scenario rather than an assumption of de-escalation.
Our advisory and intelligence team monitors Gulf risk and helps you plan for a longer conflict.