US military conducts 13th night of strikes on Iranian military sites

The United States military has conducted its 13th straight night of airstrikes on Iranian military installations, aiming to diminish threats to commercial shipping in the region. The U.S. Department of Defense stated that these operations specifically targeted sites linked to the Iranian Revolutionary Guard Corps (IRGC) to ensure the safety of navigation through the critical Strait of Hormuz. This ongoing military campaign is part of the broader 2026 U.S.-Iran conflict, characterized by sustained air and maritime engagements. Despite various diplomatic efforts, ceasefire attempts have not succeeded, and tensions remain high, with the U.S. emphasizing the importance of maintaining freedom of navigation in the region. Key Takeaways The continuation of U.S. airstrikes appears consistent with scenarios where Iran faces increased military pressure, potentially leading to a full airspace closure. Market pricing suggests a notable increase in the perceived likelihood of Iran closing its airspace, with odds for a July 31 closure moving from 34% to 39% in recent activity. The escalation in military activity may indicate a potential impact on Iran’s ability to maintain open airspace, as mark...