Israel attacked Lebanon, killing 11 people, the most intense attack since the ceasefire in early June. Meanwhile, the United States is preparing new sanctions on Iran amid the expiring ceasefire agreement.

The United States threatened to unleash unprecedented economic measures against Iran, coupled with a blockade of the Strait of Hormuz, while the Pentagon asserted that the US Navy could maintain the blockade indefinitely.

The absence of Iran's Supreme Leader Mojtaba Khamenei has opened the door to a severe clash between hardline and pragmatic factions, while Tehran's increasingly aggressive stance towards the United States diminishes the chances of ending the war.

Hopes of ending the Iran-Uran war are fading after attacks on ships in both the Gulf of Oman and the Bab el-Mandeb Strait, while Iran insists it will not open the Strait of Hormuz until the United States accepts its conditions. This pushed Brent crude oil prices up 1.4% to $88.91 per barrel.

Brent crude oil prices edged up 0.81% to $89.63 per barrel as hopes for a US-Iran deal dimmed, while shipping through the Strait of Hormuz plummeted to just six ships per day, compared to a pre-war average of 125-140 ships per day, despite US crude oil stockpiles surging to 9.1 million barrels.

US media revealed a covert operation to protect President Trump after a threat from Iran was detected. Air Force One was used as a decoy before he was secretly escorted through an airport catering truck to a C-32A aircraft.

Trump has escalated his demands for Iran to pay reparations for damages and deaths in several countries, after Iran also demanded war compensation from the United States, dashing hopes of reopening the Strait of Hormuz anytime soon.

Trump signals that the US is not in a hurry to launch a new attack on Iran, hoping that pressure from the naval blockade and inflation will cripple the Iranian economy.

The Strait of Hormuz crisis remains tense as the US military intercepts an additional 20 commercial ships heading towards Iranian ports, bringing the total to 55. Meanwhile, Iran reiterates that it is not ready to return to the negotiating table.

Iran indicates that the Hormuz deal is nearing its final stage, but will not reopen sea routes until the United States fulfills its conditions, including paying compensation, lifting sanctions, unlocking Iranian assets, and ending the naval blockade.