Iran struck U.S. ships in Egypt’s Port of Damietta, marking a new phase in the ongoing conflict between Iran and the United States. This attack, involving a drone targeting a U.S.-owned tanker, appears designed as a warning about threats to global shipping. The incident suggests hostilities have expanded beyond the Strait of Hormuz, a vital energy corridor, into Mediterranean maritime routes. Egyptian authorities confirmed a fire but reported no casualties. Prediction markets show the probability of Strait of Hormuz traffic normalizing by end of August has dropped to 6.5%, down from 10% twenty-four hours ago.
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