US resumes strikes on Iran as oil prices surge

Neena Mae Rayos, Philippine Canadian Inquirer
July 14, 2026

(Photo Courtesy: Canva)

IRAN – The United States intensified its military campaign against Iran with a third consecutive night of airstrikes. Despite the escalating violence, Trump maintained that a diplomatic solution remained possible.

“We’re going to hit them very hard tonight, and we’re going to hit them hard tomorrow,” President Donald Trump told radio host Hugh Hewitt on Monday.

Oil prices surged by more than nine percent due to growing fears of a broader regional conflict.

Tensions further spiked after Iran struck two UAE tankers in the Strait of Hormuz, killing one crew member and injuring eight others.

The attack marked a dangerous expansion of hostilities, as Iran’s Revolutionary Guards also targeted military interests in Bahrain, Jordan, Kuwait, and Oman.

The UAE, a key U.S. ally, condemned the assault as an act of aggression within Omani waters, highlighting the increasing risk to global commerce and regional stability as both sides exchanged heavy fire.