Iran Strikes Tankers in Strait of Hormuz Amid West Asia War

Iran's Revolutionary Guards struck two oil tankers in the Strait of Hormuz on July 31, 2026, while they were under U.S. military air escort.

ExxonMobil reported second-quarter profits of $14.5 billion, while Chevron earned $12.1 billion, driven by surging oil prices and refining margins during the conflict.

Kuwait's army destroyed drones targeting military installations on July 31, as President Donald Trump convenes a Cabinet meeting to address the war and rising gasoline prices.