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Real-time News
On July 18, Rezaei, an advisor to Irans Supreme Leader, stated that if the United States continues its attacks in the next two to three days, Iran will abandon its previous strategy of deterrence and reciprocal retaliation, shifting to a phase of "full-scale offensive and destruction," and may directly strike US military bases and personnel abroad. He claimed that Irans previous restraint was to avoid spillover of regional conflict, but the USs "miscalculation" could escalate the situation. Rezaei also called on Kuwait, Jordan, Qatar, the UAE, and other regional countries and governments to stop the US and Israel from expanding their operations, stating that the USs strategy of "simultaneous war and negotiation" has failed, and Iran will intensify its counterattacks in the coming days.July 18th - Crude oil futures recorded double-digit gains this week as the US expanded its military strikes against Iranian targets and Iran launched attacks on neighboring Gulf states. Another factor exacerbating concerns about escalating tensions is the possibility that Yemens Houthi rebels may take action to block shipping over the Red Sea; Saudi Arabia has been diverting its crude oil exports via the Red Sea while the Strait of Hormuz remains closed. Barclays analyst Amarpreet Singh stated in a report: "With inventories at near-record lows and most strategic petroleum reserve releases completed, the renewed escalation of tensions around the red line of the Strait poses significant upside risks to energy prices. As things stand, we believe the oil market is still too complacent about the potential impact on inventories."Irans Supreme Leaders advisor, Rezaei, stated that if the US attacks continue for several days, Iran will enter a phase of full-scale offensive operations.Iranian Supreme Leaders advisor Rezaei: If the Americans occupy any part of Iran, we may enter an offensive phase of war, rather than just a defensive one.July 18th - As of 2:30 PM closing, the Shanghai Gold futures contract rose 0.67% to 878 yuan/gram, the Shanghai Silver futures contract rose 1.05% to 13,729 yuan/kilogram, and the SC Crude Oil futures contract rose 5.23% to 543 yuan/barrel.
