08/07/2026 09:56 - Economia
The armed conflict between the United States and Iran, which began on February 28, 2026, entered a new phase of maximum tension. The U.S. President, Donald Trump, declared an end to the ceasefire that had been signed on June 17, 2026, triggering a wave of uncertainty across global markets.
The recent escalation includes Iran's attack on commercial ships in the strategic Strait of Hormuz, which provoked an immediate response from the United States with bombings on more than 80 targets in Iranian territory and the revocation of its oil license. To this, Iranian attacks on U.S. military bases in Bahrain and Kuwait were added.
For those unfamiliar with the region, the Strait of Hormuz is one of the world's most important maritime transit points, connecting the Persian Gulf with the Arabian Sea. A massive proportion of the global oil supply passes through this narrow channel. Recent Iranian drone attacks affected three vessels, including a Qatari container ship (Al Rekayyat) and a Saudi oil tanker. Qatar warned Iran about its legal responsibility, while Saudi Arabia strongly condemned the attacks.
Iran is demanding tolls for the passage and security of the ships, while rejecting mine-clearing assistance from France and the United Kingdom. Meanwhile, Oman has proposed a new maritime corridor to help de-escalate the situation, offering a hopeful path for dialogue and safe navigation.
Tension in the Middle East caused a new surge in crude oil prices, which had already been rising due to supply uncertainties. The United States reimposed oil sanctions, revoking General License X from June 21, 2026, and replacing it with the X1 license, further tightening access to the Iranian market and affecting global energy costs.
Source: Ámbito and Infobae
The fear of a full-scale conflict sent global stock markets tumbling. South Korea's KOSPI index—a major benchmark for Asian markets—plunged mid-session despite record-breaking financial forecasts presented by Samsung, the global tech giant. Global stocks wobbled mainly due to doubts in the technology sector's earnings, compounded by the shock of rising fuel prices.
Source: Ámbito and Infobae
Although tensions are high, there is room for optimism. Trump called Iranian leaders 'trash' but left the door open for their negotiators. The international community remains on alert, but there is a strong global push for diplomacy to prevent the conflict from extending beyond the region. As investors seek safe havens, the world hopes that diplomatic efforts will prevail, avoiding a larger energy and economic crisis and paving the way for a peaceful resolution.
Alfredo S. Quiroga
