Strait of Hormuz Shut as US-Iran War Resumes Post-MoU
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- United States mounted attacks on Iran for the ninth consecutive night, with Iran retaliating in tit-for-tat strikes as warning sirens blared across Gulf countries and Jordan.
- Trump declared the June 17 Islamabad MoU "over," with Iran also saying it won't adhere, as the Strait of Hormuz — through which 20% of the world's oil and gas passed in peacetime — shut again, sending crude prices surging.
- Iran's rial hit nearly 1.9 million per US dollar this week — a new all-time low — while the Tehran Stock Exchange's main index fell 2.4% (120,000 points) on Saturday amid the renewed US naval blockade.
- US military deaths in the conflict reached 17, with three killed since fighting resumed about 10 days ago, including two in Iran's attack on a Jordanian airbase on Friday and a third soldier missing.
- Trump posted a 60% disapproval rating on the economy and a net approval of -22 in CNBC polling — reported as the lowest of his political career — with 61% of respondents pessimistic about the economy.
- Iran struck civilian infrastructure in Gulf states including power and desalination plants in Kuwait, while accusing the US of bombing bridges, tunnels, ports, and power stations, with officials reporting 50+ killed and ~500 wounded in three weeks.
Why it matters: The economic pain across all parties — Iran's rial at an all-time low, Gulf civilian infrastructure under attack, Trump at a career-low -22 net approval — is mounting simultaneously, yet analysts quoted by Al Jazeera say escalation is more probable than negotiation in coming weeks, with no diplomatic momentum visible from either Washington or Tehran.
