Iran has accused the United States of violating a ceasefire agreement through fresh military actions, escalating tensions between the two nations. The accusation follows the U.S. launching a series of assaults targeting Iranian military installations after an incident involving an Iranian attack on a commercial vessel in the Strait of Hormuz. Iran claims that recent U.S. strikes on coastal surveillance radar sites contravene the terms of the ceasefire, which was part of the Islamabad Memorandum agreed in June 2026. This development marks a significant deterioration in relations, with potential implications for regional stability.
Key Takeaways
Market activity suggests heightened expectations of a full airspace closure in Iran, with odds for a July 31 closure rising from 16% to 25.5% over the last 24 hours.
The escalation, including U.S. strikes on Iranian installations, appears to influence market participants’ views on the likelihood of an airspace shutdown.
Recent developments suggest a return to full-scale conflict, consistent with increased probabilities of restrictive actions by Iran, such as a complete airspace closure.
