Key development: Three oil tankers were struck in the Strait of Hormuz—a sharp escalation from threats to actual attacks on the chokepoint for a fifth of the world’s oil.
International
(Update) At least 18 people were wounded in explosions near a Damascus hotel while Macron was meeting with Syria’s president. This is a separate attack from the cafe bombing last week and shows ongoing instability during high-profile diplomatic visits. (Euronews) [UNCONFIRMED]
Context: The blasts happened near the Four Seasons Hotel while Macron was inside the presidential palace meeting with President Ahmad al-Sharaa. This is the second violent incident in Damascus in less than a week—a cafe bombing on July 4 was the previous attack. Only one source is reporting this development so far.
Sources: Euronews
Trump arrived in Turkey for a NATO summit where he’s expected to pressure European allies on defense spending. The meeting comes a year after members agreed to hit 5% GDP on defense spending, but Trump has been publicly criticizing European allies over their approach to Iran ahead of the gathering. (Euronews)
Context: The two-day summit in Ankara marks one year since NATO members committed to ramping security spending to 5% of GDP under US pressure. Trump has been publicly criticizing European allies over their approach to Iran ahead of the gathering.
Sources: Euronews
Economy
(Update) Three oil tankers were struck in the Strait of Hormuz, marking an escalation from threats to actual attacks on commercial shipping. The British military confirmed all three tankers were hit on Tuesday in what they’re calling a sharp escalation. About a fifth of the world’s oil flows through that waterway. (France24)
Context: This moves beyond earlier threats to actually shut down the strait—previous reporting focused on warnings, but now commercial shipping is taking confirmed hits in one of the world’s most critical energy chokepoints. The attacks occurred Tuesday according to British military sources.
Sources: France24
What to watch: Oil prices when markets open, and whether Iran claims responsibility for the tanker attacks—which will determine how quickly this escalates.