US steps up bombing campaign in Iran
July 17, 2026
The market is waiting to see what comes next and if the US will increase air strikes and attack bridges and power facilities. If that happens, Iran wants its allies, the Houthi Rebels in Yemen to close the Red Sea. Tensions remain high and the market watches to see what is next.
A report this morning says the US hit five bridges in Southern Iran. Crude oil has rallied and is now trading near 80 per barrel.
The IRGC has targeted a US base in Qatar, fighter jets stationed in Jordan, and helicopters in Bahrain. He IRGC has also warned other countries that host US bases will face more crushing retaliation should the US continue its own attacks.
The Iranian Revolutionary Guard Corp said that no oil or gas would flow through the Strait of Hormuz if the attacks persisted.
The market is again waiting and watching to see what comes next.