CENTCOM Airstrikes Hit Iranian Targets for Seventh Straight Night

The US Central Command (CENTCOM) launched airstrikes against Iranian targets in and around the Strait of Hormuz for the seventh straight night. The strikes, which began on July 17-18, targeted surveillance systems, air defense mechanisms, missile infrastructure, and maritime assets in Iran's Hormozgan province.

The region is a strategic location through which roughly a fifth of the world's oil supply passes each day. The escalation in conflict comes after the breakdown of a recent ceasefire agreement on July 15.

Iran responded to the airstrikes with force, launching ballistic missile strikes that killed two US service members in Jordan on July 17. The country also asserted control over the Strait of Hormuz and launched assaults on Kuwaiti interests and other Gulf states.

The conflict is affecting global markets, including crypto. Bitcoin dropped below $64,000 during the strikes, trading in a range around $62,800 to $63,800. This reflects a classic risk-off posture, as any sustained disruption to traffic through the Strait of Hormuz would send crude prices sharply higher.