Key Points
Iran fired five ballistic missiles at U.S. base in Jordan on July 29, all intercepted with no damage.
U.S. and Saudi Arabia struck Iranian-backed militias in Iraq, killing at least 20 fighters and six advisers.
Trump vowed retaliation and U.S. completed heavy wave of strikes on Iranian Revolutionary Guard targets.
Brent crude oil jumped 3.1% to $84.58 per barrel as conflict widened to Egypt and threatened global shipping.
Iran launched ballistic missiles at U.S. military positions in Jordan on July 29, ending five days of relative calm and triggering swift retaliation. The U.S. military intercepted all five Iranian missiles traveling at 8,500 miles per hour with no reported damage. President Trump vowed a harsh response, and the U.S. military completed a heavy wave of strikes on Iranian targets by early Thursday. Oil prices jumped 3.1% to $84.58 per barrel as the conflict widened.
Iran breaks ceasefire with surprise attack
Iran’s Revolutionary Guard fired ballistic missiles at the Muwaffaq Salti Air Base and U.S. Central Command headquarters in Jordan at 17:45 EDT on Tuesday, July 29. Jordan’s military said it intercepted and destroyed all five missiles. The Iranian military called the strike offensive and preemptive, breaking from its usual pattern of claiming attacks were responses to U.S. action. This marked a significant shift in Iran’s strategy after publicly signaling it would match U.S. restraint just hours earlier.
U.S. and Saudi forces strike back in Iraq
The U.S. partnered with Saudi Arabia to strike Iran-backed militias in Iraq, killing at least 20 fighters and six Iranian advisers. U.S. Central Command said the strikes targeted multiple logistics and weapons sites across eastern Iraq in response to over 30 drone attacks by Iranian-backed groups in the prior 72 hours. The Popular Mobilisation Forces, an Iraqi paramilitary group dominated by Iran-backed Shia militias, confirmed the casualties. Saudi Arabia had accused Iraqi militias of launching drones at its oil facilities over the previous two days.
Trump orders heavy retaliation on Iranian targets
President Trump vowed to hit Iran hard, telling Fox News on Wednesday morning the U.S. would deliver a beating. The U.S. military completed a heavy wave of strikes on Iranian targets by early Thursday, striking dozens of Revolutionary Guard Corps facilities including military command centers, missile and drone sites, and coastal defense positions. Explosions were reported across southern Iran, including Bandar Abbas and islands in the Persian Gulf. Iranian state media reported two people injured on Qeshm Island and rescue operations ongoing after a residential home was struck.
Mediation collapses over Strait of Hormuz control
Iran rejected an Oman-backed proposal to jointly manage the Strait of Hormuz, a critical waterway for global energy supplies. Iran’s deputy foreign minister demanded that Tehran control the entire inbound shipping lane, while Oman could manage only part of the outbound lane. The failed negotiations preceded Iran’s missile attack by hours. The interim ceasefire agreement had collapsed in recent weeks over renewed fighting in the strait, which Iranian attacks have effectively closed. Brent crude oil jumped 3.1% to $84.58 per barrel as the conflict escalated across multiple fronts.
Final Thoughts
Iran’s decision to restart the fight signals hardened resolve on controlling the Strait of Hormuz and its regional influence. With the five-month conflict now widening to Egypt and threatening global energy supplies, the risk of sustained escalation has sharply increased despite Trump’s threats of further strikes.
FAQs
Iran rejected a compromise on Strait of Hormuz control and decided raising pressure was worth the risk of restarting the conflict, according to researchers and Iranian officials.
Zero. Jordan’s military intercepted and destroyed all five Iranian ballistic missiles traveling at 8,500 miles per hour with no reported casualties or damage.
The U.S. completed a heavy wave of strikes on dozens of Iranian Revolutionary Guard targets including command centers, missile facilities, and coastal defense sites across southern Iran.
Brent crude jumped 3.1% to $84.58 per barrel as the renewed fighting raised concerns about further disruption to global energy supplies through the Strait of Hormuz.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
About Author

Huzaifa Zahoor
Co FounderHuzaifa Zahoor is the engineer who built Meyka. He has spent years writing Python, training AI models, and building data pipelines specifically for financial markets. His technical articles have reached over 30,000 readers on Medium, so he knows how to make complex things easy to follow. If this article touches on how the tools work, he is the person who actually built them.
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