At least two Iranian IRGC missiles struck commercial ships in the Strait of Hormuz on July 7: Qatar-flagged LNG tanker Al Rekayyat caught fire with explosion risk, Saudi supertanker Wedyan also struck. Trump voided all Islamabad Memorandum waivers the same day, reimposed oil sanctions, and CENTCOM announced strikes on Iranian military installations near the strait. Trump's prior warning: "We can knock down their bridges in one hour."
1
The Attack
Al Rekayyat, fully loaded with LNG, sent distress signals after a port-side hit; crew evacuated safely. Qatar officially blamed Iran. Iranian state media insinuated responsibility without formal claim. Bloomberg called it the biggest day of Hormuz attacks since the US-Iran peace deal was signed June 17.
2
US Response
Treasury reimposed pre-MOU oil-export sanctions. CENTCOM announced strikes on Iranian military sites near Hormuz. The Islamabad MOU granted Iran a 60-day ceasefire and toll-free shipping window. Iran's own IRGC torched that window—an external breach, not a US policy failure.
3
Market Reaction
Brent crude spiked more than 3% overnight. Gold hit a record high. LNG spot prices jumped sharply; Asian buyers activated emergency backup supply plans. Oil price advance was a cited driver of equity rotation out of tech on July 7.
The IRGC breached the MOU before expiry. External variable: Iran's own hardliners. Trump's response follows the stated playbook exactly.
Sources
- ✓ Bloomberg — Hormuz Sees Biggest Day of Attacks Since US-Iran Peace Deal — 2026-07-07
- ✓ Al Jazeera — Saudi, Qatari tankers hit as Strait of Hormuz risks worsen — 2026-07-07
- ✓ gCaptain — LNG Tanker Al Rekayyat at Risk of Exploding After Attack Near Hormuz — 2026-07-07
- ✓ Wikipedia — 2026 Strait of Hormuz crisis — 2026-07-08
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