Iran Hits US Bases in Six Gulf States; Brent Nears $91

Iran fired ballistic missiles at US bases across six Gulf nations July 16–18, per ISW and CBS News. The US struck Iran for an 11th straight night. Houthi threats turned oil tankers back in the Strait of Hormuz. Brent crude closed near $91, Bloomberg reported. The chokepoint disruption, not sentiment, is driving oil's risk premium.