US President Donald Trump walks after disembarking from the presidential helicopter 'Marine One' upon arrival at Camp David in Maryland, USA. July 31, 2026. Photo: Reuters.
Just as President Donald Trump was meeting with his cabinet to discuss rising prices and the stalled war ahead of the upcoming US midterm elections, Iran reported attacking two oil tankers that were under US military escort in the Strait of Hormuz.
Iran’s Islamic Revolutionary Guard Corps (IRGC) stated on Friday, “Oil tankers violating regulations… were struck and halted. Meanwhile, four other oil tankers rapidly changed course and returned to their previous locations.” The vessels were attempting to traverse the Strait of Hormuz using an “undeclared route” while under US Air Force escort.
Both Iran and the US have designated specific routes for ships to pass through the Strait of Hormuz. Iran has been targeting ships using the southern route near the coast of Oman, while the US has been attacking vessels that violate the sanctions it imposed on Iranian shipping and ports.
Shipping traffic through the Strait of Hormuz has come to a near-total standstill since hostilities between Iran and the US resumed two weeks ago, causing fuel prices to skyrocket. On Thursday, the US launched a major attack on Iran in retaliation for strikes on US bases in Jordan; following this, the price of crude oil on the global market surged past $90 per barrel.
Fighting continued on Friday as well. Kuwait’s Ministry of Defense reported shooting down an Iranian drone targeting the country’s “critical and military installations,” with no casualties reported.
The Israeli military carried out massive overnight explosions near the ancient Beaufort Castle in Lebanon, stating that the strikes targeted Hezbollah tunnels and infrastructure. The deafening blasts were heard across southern Lebanon, and nearby towns were blanketed in ash; published images showed the affected area reduced to dust by the sheer force of the explosions.
Lebanese officials have accused Israel of violating the ceasefire by carrying out this explosion. The Israeli military claims it was ensuring the safety of residents in its northern regions.
Trump had attempted to reopen the Strait of Hormuz through the use of force. However, increasingly intense US attacks on Iran have yielded little success. Due to the energy crisis, prices for fuel and essential goods in the US remain high, complicating the Republicans’ chances of victory in the upcoming November midterm elections.
Trump gathered his cabinet members at the Camp David retreat in Maryland on Friday to map out the future course of the war. White House Press Secretary Karoline Leavitt stated in a briefing last week that the cabinet meeting would be “a lot of fun and a unique experience for the cabinet members to share.”
The war with Iran will be the primary agenda item for discussion. Although Trump had promised the war would last only a few weeks, it has dragged on for five months. A Reuters-Ipsos poll this week revealed that only one in three Americans supports the war—the lowest level of support since the conflict began.
Support for the war is waning in Congress as well. A Senate resolution aimed at compelling the President to end the war failed by a margin of just one vote; the measure received 49 votes in favor and 50 against.
Inflation resulting from the war has proven to be a boon for the Democrats. They hope this will enable them to wrest control of the House of Representatives from the Republicans.
Energy companies have reaped record profits as a result of this conflict. ExxonMobil’s profits have doubled compared to the same period last year, while Chevron has reported a more than fivefold increase in its earnings.
