Global Express | July 9, 2026 US-Iran Ceasefire Collapses, Middle East Ignites, Global Oil Markets in Turmoil

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📰 US Launches Massive New Strikes on Iran, Trump Declares Ceasefire "Over"

President Donald Trump declared the US-Iran ceasefire memorandum "over" while attending the NATO summit in Turkey. US Central Command subsequently confirmed that American forces launched two rounds of massive airstrikes against Iran over the past 48 hours, striking more than 170 military targets. Aboard Air Force One, Trump vowed: "Every time they hit us, we're gonna hit them twenty times."

Iran condemned the US attacks as occurring during an active ceasefire, accusing Washington of violating the memorandum of understanding reached through indirect negotiations. Iran's health ministry reported that US strikes on five Iranian provinces between July 7 and 8 killed 14 people and injured 78 others. Analysts note this represents the largest single escalation since the Iran war began earlier this year, marking the complete collapse of the fragile ceasefire that had held for months.

The international community expressed deep concern over the escalation. The UN Secretary-General's spokesperson called for an immediate return to dialogue, while Russia and China separately urged all parties to exercise restraint.

— The Guardian

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📰 Iran's Revolutionary Guard Strikes US Bases in Kuwait and Bahrain

In retaliation for the latest American airstrikes, Iran's Islamic Revolutionary Guard Corps announced early Thursday that it had launched drones and missiles at US military bases in Kuwait and Bahrain. Iranian state media reported that the Iranian army also targeted an American early warning satellite antenna site in Qatar, as well as fuel storage facilities belonging to US forces in Bahrain.

The IRGC statement warned that if American forces continue attacking Iran, the scope of retaliation would expand to other US bases across the region. The Pentagon confirmed the attacks but stated that most incoming munitions were intercepted by air defense systems, with no significant casualties reported. The US currently maintains approximately 13,000 troops in Kuwait and 7,000 in Bahrain.

Analysts fear that Iran's direct attacks on American bases in Gulf Arab states signal that the conflict is spreading from a bilateral confrontation into a broader regional war.

— CNN

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📰 Khamenei Laid to Rest in Mashhad as Week-Long State Funeral Concludes

The funeral of Iran's late Supreme Leader Ayatollah Ali Khamenei culminated on July 9 with his burial in his hometown of Mashhad, as hundreds of thousands of mourners attended the final ceremony. The burial marks the end of a six-day, multi-city state funeral originally scheduled for March but postponed due to the war. Khamenei was killed on February 28 in a joint US-Israeli airstrike.

Over the past week, Khamenei's coffin traversed Tehran, Qom, and the Iraqi holy cities of Karbala and Najaf before arriving at the Imam Reza Shrine in Mashhad. Millions participated in memorial processions along the route. In Karbala, the flower petal-covered coffin was carried above a sea of mourners reaching to touch it outside the Imam Hussein Shrine.

The Washington Post reported that Khamenei's death has surfaced deep divisions within Iran over his political legacy. His son Mojtaba Khamenei is widely expected to be the leading candidate to succeed his father as Supreme Leader, though analysts note that the wartime environment may introduce greater uncertainty into the power transition.

— CNA

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📰 NATO Summit Concludes in Ankara: Five Key Takeaways

The 36th NATO Summit concluded in Ankara, Turkey, with leaders from all 32 member states convening for two days of intensive discussions. Host President Recep Tayyip Erdogan called the summit "historic," while NATO Secretary General Mark Rutte declared the alliance had been "truly transformed."

President Trump dominated the proceedings, drawing attention for criticizing European allies' defense spending, unexpectedly asserting that the US should "control Greenland" — triggering sharp protests from Denmark — and using a press conference to issue new military threats against Iran. Despite unsettling many European allies, Trump departed Ankara claiming the summit had been "very successful" and characterized by "tremendous unity."

Another key outcome was the alliance's commitment to continue expanding defense budgets. Rutte stated that this would enable European allies to work more capably alongside the United States to "keep one billion people safe." The summit also reaffirmed NATO's support for Ukraine.

— Al Jazeera

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📰 NATO Pledges €70 Billion in Assistance to Ukraine

At the Ankara Summit, NATO allies formally committed €70 billion (approximately $80 billion) in military and economic assistance to Ukraine, aimed at helping Kyiv withstand Russia's ongoing offensive. Secretary General Rutte indicated that the aid package would cover air defense systems, ammunition supplies, and economic reconstruction.

Ukrainian President Volodymyr Zelensky held a bilateral meeting with Trump on the sidelines of the summit. While Trump has previously criticized the scale of aid to Ukraine, he praised "progress" in the peace process on this occasion. Zelensky emphasized Ukraine's urgent need for more Patriot air defense interceptor systems, as Russia has significantly intensified its aerial bombardment campaign in recent weeks.

Meanwhile, Russian attacks on Ukraine continued unabated. During the summit, Russian forces launched ballistic missiles and drones at multiple Ukrainian cities, including Kyiv, causing civilian casualties. Analysts suggest Russia is seeking to exploit the global attention diverted by the Middle East crisis to increase military pressure on Ukraine.

— Al Jazeera

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📰 Global Oil Prices Surge 5% as Hormuz Crisis Sparks Energy Alarm

Oil markets recorded their sharpest single-day rise in nearly two months on Wednesday following Iranian attacks on tankers near the Strait of Hormuz and the dramatic escalation of US-Iran military conflict. Brent crude futures rose 5.3% to $78 per barrel, while West Texas Intermediate crude climbed 5.4% to above $74 per barrel. The Strait of Hormuz carries roughly one-fifth of the world's oil, making any disruption a severe threat to global energy supply.

The crisis began on July 7 when Iran fired projectiles at three commercial oil tankers transiting the Strait of Hormuz. The US responded with massive retaliatory strikes on July 7-8. Market analysts note that geopolitical risk premiums are rapidly returning to oil markets, with prices potentially surging back above $100 per barrel in the near term after having eased under the ceasefire.

Dario Liguti, Director of Energy at the UN Economic Commission for Europe, warned: "We can expect prices and price volatility to remain high and supply disruptions — especially in local markets — to continue for the months ahead." The International Energy Agency has characterized the Hormuz crisis as the "largest supply disruption" in recent history.

— The Guardian

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📰 IMF Warns of Sharp Global Economic Slowdown Due to Iran War

The International Monetary Fund released its latest World Economic Outlook on Wednesday, sharply downgrading its 2026 global growth forecast. The report warned that the Iran war's disruption of Middle East energy supply chains and the resulting surge in inflation is inflicting severe damage on the global economy. Some economists have drawn comparisons to the conditions preceding the 1929 Great Depression.

The OECD separately reported that non-compete clauses are spreading from high-wage to middle and lower-wage positions, reflecting structural pressures in labor markets. The World Bank simultaneously noted that growth in low-income countries is now expected to reach only 5.4% in 2026, down 0.3 percentage points from earlier forecasts, reflecting the impact of the Middle East conflict.

However, Oxford Economics offered a more optimistic assessment, forecasting that global growth could accelerate to an annualized 3.1% in the second half of 2026, up from an estimated 1.6% in the first half, powered chiefly by cheaper oil feeding through to household incomes.

— Euronews

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📰 Russian Strikes Hit Kyiv for Second Straight Day, 4 Killed Across Ukraine

Russian forces launched a fresh wave of large-scale missile and drone attacks across Ukraine, killing at least four civilians, including two in the capital Kyiv. This marked the second consecutive day of strikes on Kyiv, intensifying a war now in its fifth year. Multiple explosions were reported across the capital, with fires breaking out in several buildings as air raid sirens sounded for hours.

Ukraine's air force reported successfully intercepting the majority of incoming threats, though some missiles and drones penetrated defenses. Meanwhile, Ukrainian forces continued their long-range strike campaign against Russian oil infrastructure and military assets deep inside Russia. Ukrainian Unmanned Systems Forces Commander Major Robert Brovdi reported that Ukrainian forces struck eight Russian "shadow fleet" tankers on July 7.

According to Ukrainian military estimates, cumulative Russian combat losses since the February 2022 full-scale invasion have exceeded 1.41 million personnel as of July 8, with approximately 1,260 killed or wounded in the past 24 hours. The war grinds on as a high-intensity battle of attrition.

— AP News

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📰 Super Typhoon Bavi Bears Down on China After Floods Kill 39

Super Typhoon Bavi is barreling toward China's eastern coast, projected to be the region's most powerful storm since 2024. The typhoon is expected to strike Taiwan before approaching Fujian and Zhejiang provinces on the mainland, threatening to compound devastation in regions already battered by Typhoon Maysak. Earlier, Maysak triggered severe flooding in southern China, bursting a reservoir dam in Guangxi and killing at least six people.

The cumulative toll from this season's storms has been devastating: a landslide triggered by heavy rain killed at least 21 in Gansu province, while buildings in Hengzhou, Guangxi were partially submerged in floodwaters. Scientists warn that the 2026 typhoon season is proving more intense and destructive than a typical year. Hong Kong Chinese University professor Hui Su noted that Maysak's severe impacts and the looming threat of Bavi indicate an exceptionally dangerous season.

Chinese authorities have activated the highest-level emergency response, with coastal provinces conducting urgent evacuations and the military deployed on standby. Meteorological agencies predict Bavi could make landfall at super typhoon strength this weekend, bringing a triple threat of storm surge, high winds, and torrential rainfall.

— The Independent

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📰 World Cup Quarterfinal: France vs Morocco

The 2026 FIFA World Cup enters the knockout stage tonight with the first quarterfinal clash between defending champions France and tournament dark horse Morocco. The match, hosted in the United States, is expected to draw hundreds of millions of viewers worldwide for this Africa-Europe football showdown.

Morocco has continued their remarkable form from the 2022 Qatar World Cup, once again reaching the quarterfinals as the pride of African football. France, boasting world-class talents including Kylian Mbappé, seeks to defend their title. The winner will face either England or Argentina in the semifinals. The tournament is co-hosted by the United States, Canada, and Mexico, with the final scheduled for July 19 at MetLife Stadium in New Jersey.

In a tragic related development, an Israeli airstrike in Gaza killed a World Cup screening event organizer just before kickoff, drawing renewed international attention to the humanitarian situation in Gaza.

— ESPN

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