The Daily BriefMorning Briefing · Friday 31 July 2026 · 03:30 BST
Morning Briefing · Friday 31 July 2026

US Strikes Iran Again as Tehran Vows Revenge

American forces struck Iran again overnight, in what Central Command called a “heavy wave” of attacks on Revolutionary Guard command centres and missile sites, after Tehran’s retaliation for earlier US strikes. Iran held funerals for Guard members killed in the fighting and vowed that the United States “will pay the price”. Iranian state media reported civilian casualties, including a child, though the US did not confirm them.

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The renewed strikes marked another turn of an escalatory spiral that has run for five months and shows little sign of easing on the ground, even as diplomacy is said to be stirring behind the scenes. President Trump, who had promised to hit Iran “very hard”, has pressed his campaign despite polls showing most Americans think the war has not been worth it, and the Senate again declined to curb his war powers. Yet financial markets bet the confrontation would cool: oil fell back towards the mid-$80s as traders wagered on de-escalation and higher output from other producers. Watch whether the fighting or the diplomacy sets the course.

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