SummaryTrump formally notifies Congress US has resumed war with Iran.Trump warns will hit Iran 'hard' tonight or tomorrow; Pentagon confirms 3rd night of strikes has begun.Reports of Houthi missiles launched on Saudi Arabia: oil extends gains near month-highs.Trump says US blockade of Iran ports 'reinstated': states that US to be reimbursed at rate of 20% of cargo shipped for vessels wishing to transit. CENTCOM affirms with closure message.Strikes escalated over weekend: US hit over 140 Iranian military targets; Iran attacks US-linked facilities across the Gulf.Shipping tensions boil: Iran claims the strait is closed, but commercial vessels continue transiting under US protection.Oil prices climb: on rising risk to global shipping & energy markets, as diplomacy clearly unraveling.Strait of Hormuz traffic returns to normal by August 31?
Yes 16% · No 85%View full market & trade on Polymarket WH Formally Notifies Congress War has ResumedWe are very far past the little "excursion" the administration talked about in the earlier phases of Operation Epic Fury, per reports late this afternoon and early evening:President Trump formally notified Congress last week that the U.S. has resumed military strikes against Iran, providing the Pentagon an extra 60 days to utilize U.S. forces in the U.S. Central Command (Centcom) theater absent congressional approval. Trump told lawmakers in a 2-page letter on Friday that U.S. strikes resumed against Iran on July 7, alerting legislators in line with the War Powers Act, which stipulates the commander-in-chief has to inform Congress within two days of the military conducting kinetic action abroad. President Trump is still insisting that the US won't get sucked into a ground war, akin the Iraq or Afghan wars. "United States ground forces are not involved in these strikes. These strikes are limited, measured, planned and executed in a manner designed to minimize civilian casualties," the president wrote in the letter.Overnight reports say Iran has in turn renewed its retaliation on Gulf allies hosting American bases, especially Bahrain.Pentagon Announced 3rd Night of Major StrikesIn case anyone had doubts that the region has witnessed a return to full-scale US-Iran war, CENTCOM has announced that it has begun launching the third consecutive night of strikes on Iran in the overnight hours (local):This as President Trump has claimed Monday that the US had a “deal with [Iran] two days ago” but that Tehran wanted “to negotiate it further”. However when asked by a reporter whether he thinks a negotiated settlement is no longer possible Trump responded: “I never reached that conclusion.”He explained his beleif that the “most effective” way to put pressure on Iran is va a combination of a blockade and “hitting them”. Earlier he and the Pentagon announced that a full blockade of Iranian ports is back on.JUST IN - US strikes against Iran begin pic.twitter.com/YWCvSepJp8
