Iran Promises 'Decisive Response' After US Strikes Kill Military Personnel Amid Strait of Hormuz Tensions

The US military launched strikes against approximately 90 Iranian military sites on July 13-14, targeting air defense systems, missile facilities, and coastal installations. The operation aimed to degrade Iran's ability to threaten maritime safety in the Strait of Hormuz, a critical shipping corridor where roughly 20% of the world's oil passes through daily.

The US Central Command said the strikes were focused on degrading Iran's military capabilities, but Iranian authorities have vowed a 'decisive response' following the loss of at least eight military personnel. Commercial tankers navigating the Strait of Hormuz have come under attack in retaliatory operations by Iran.

Risk assets and energy markets are watching the situation closely, as sustained disruption to commercial shipping through the waterway could send oil prices sharply higher. Historically, such escalations have strengthened the dollar as a safe-haven currency, which could create headwinds for Bitcoin and other crypto assets denominated in USD terms.