US strikes Iran for tenth straight night as Tehran hits Kuwait base; American death toll reaches 17Iranian missile hit US troop housing at Jordan base; Aqaba airport and port evacuatedHouthis declare Saudi naval blockade as fresh tanker attacks hit the Strait of HormuzBrent crude back above $90 as Gulf war rattles stocks, currencies and rate-settersTrump imposes 50% tariffs on Canadian goods under untested 1930 trade lawMerz signals cabinet reshuffle after Spahn quits as parliamentary leader over surrogacy rowBurnham takes office as UK prime minister, names Healey chancellor and calls TrumpRussia hits Kyiv with one of the war's largest ballistic barragesUkrainian drones and sea drones strike Russian oil terminals, power grid and Black Sea shipsFerry with about 133 aboard capsizes off Guyana; dozens missingAt least 50 Malian soldiers killed in jihadist–separatist ambush near AnefisChina uses WAIC to press its claim to lead 'global AI governance'Heatwave fuels major wildfires in Spain and Greece; nearly 50,000 hectares burnedUS strikes Iran for tenth straight night as Tehran hits Kuwait base; American death toll reaches 17Iranian missile hit US troop housing at Jordan base; Aqaba airport and port evacuatedHouthis declare Saudi naval blockade as fresh tanker attacks hit the Strait of HormuzBrent crude back above $90 as Gulf war rattles stocks, currencies and rate-settersTrump imposes 50% tariffs on Canadian goods under untested 1930 trade lawMerz signals cabinet reshuffle after Spahn quits as parliamentary leader over surrogacy rowBurnham takes office as UK prime minister, names Healey chancellor and calls TrumpRussia hits Kyiv with one of the war's largest ballistic barragesUkrainian drones and sea drones strike Russian oil terminals, power grid and Black Sea shipsFerry with about 133 aboard capsizes off Guyana; dozens missingAt least 50 Malian soldiers killed in jihadist–separatist ambush near AnefisChina uses WAIC to press its claim to lead 'global AI governance'Heatwave fuels major wildfires in Spain and Greece; nearly 50,000 hectares burned
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The Situation · Edition 20

Monday, 20 July 2026

The war between the United States and Iran has dominated the global picture for the ninth day running. Overnight the US military again launched strikes, a third US soldier was killed in northern Iraq, and Iran fired on US bases in Kuwait and Jordan. In the Strait of Hormuz another tanker was ablaze, yet roughly two-thirds of shipping traffic continues to flow. A preliminary peace plan has collapsed, and diplomats warn of a slide into an all-out regional war. The war is being felt immediately on the markets: the price of oil rose above 90 dollars a barrel, putting pressure on currencies, equities and inflation expectations.

In Ukraine, Kyiv responded to one of the heaviest Russian missile attacks since the start of the war with more than 400 drones aimed at the Moscow region; at the same time, by receiving North Korea's foreign minister, Putin is deepening the Moscow-Pyongyang-Beijing axis. In Europe, politics is realigning: Britain gets a new prime minister in the Labour politician Andy Burnham, in Hungary the chess legend Judit Polgar is set to become president, and in Germany the conservative bloc is looking for a parliamentary leader after the resignation of Jens Spahn. In the Middle East, thousands of Israelis are marching to the Gaza border for new settlements, and China's pressure on Taiwan is mounting.

In the economy, alongside the oil price, worry over German industry dominates: China's luxury tax is hurting the premium carmakers, and Europe's costly rearmament threatens to founder on its dependence on Chinese raw materials. At the same time there are positive signals: earnings rose 5.1 percent in 2025, outpacing inflation, and electric cars have become significantly cheaper since 2020, according to a study.

In technology the balance of power is shifting. China is driving its AI industry forward with stock-market listings and more than 400 humanoid robots, but is running up against limits in computing capacity. On the stock markets, meanwhile, skepticism is growing: investors are rotating out of the big tech names into new favorites, and in the memory-chip market fear of a new boom-and-bust cycle is spreading. The underlying question remains how sustainable the AI-driven upswing is.

Middle EastEurope's economyHormuz-Iran CrisisOil MarketRussiaChina's Economy

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Ninth night of the US-Iran war: third US soldier dead, tanker ablaze in Hormuz

Hormuz-Iran CrisisMiddle EastOil Market

For the ninth night running, US forces struck targets in Iran; in northern Iraq another US soldier was killed while detonating an Iranian drone. Tehran reported attacks on US bases in Kuwait and an aerial target in Jordan, while in the Strait of Hormuz a ship was once again on fire. The oil price rose above 90 dollars.+ more perspectives

For the ninth night in a row the US military said it carried out strikes against command centers and communications networks in Iran; President Trump declared the attacks were carried out 'in honor of' fallen soldiers. Confirmed is the death of another US soldier while detonating an Iranian drone in northern Iraq, bringing the number of recent US dead to three (Al Jazeera counts 17 since the start of the war). Western outlets such as the Guardian and the New York Times stress that a preliminary peace plan foundered over the dispute about the Strait of Hormuz and that, according to Energy Secretary Wright, the US mission has shifted primarily to securing oil flows; critics speak of a 'war of choice.' Iranian and state-aligned sources such as Global Times and Serbia's Politika report explosions in several cities and accuse the US of hitting civilian facilities and the Darkhovin nuclear power plant. Tehran reported missile attacks on the Ali Al Salem air base in Kuwait and on US aircraft at Jordan's Aqaba airport; according to B92, Iran is even weighing a ground push against US bases in Kuwait. In the Strait of Hormuz another tanker was ablaze, yet Washington insists that around two-thirds of shipping traffic continues to run. The US is deploying additional fighter jets to the region, and diplomats warn, according to Haaretz, of a slide into an all-out regional war.

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