Key Takeaways
- U.S. Central Command (CENTCOM) launched its 13th consecutive night of airstrikes against Iranian military targets at 6:45 p.m. ET on July 23, 2026.
- Multiple explosions were reported in the southern Iranian city of Ahvaz and near the Bushehr nuclear power plant, where a missile reportedly struck a nearby power station.
- Australia's Flash July PMI data showed a surprise jump in private sector activity, with the Composite PMI rising to 52.6, its highest level since January.
- Global oil prices have surpassed $100 per barrel as Yemen's Houthi rebels reportedly attacked two Saudi oil tankers, threatening to further disrupt Red Sea trade routes.
U.S. Intensifies Military Campaign Against IRGC
The U.S. military has extended its air campaign into a second full week, targeting Islamic Revolutionary Guard Corps (IRGC) assets across southern Iran. According to U.S. Central Command, the latest wave of strikes began at 6:45 p.m. ET and is specifically designed to diminish threats to commercial shipping in the Strait of Hormuz.
Local reports from the Fars News Agency confirmed multiple blasts in Ahvaz, a critical industrial hub in the Khuzestan province. Additional strikes were reported near Bushehr, where local officials stated a missile hit a power station, causing localized outages but reportedly leaving the nearby nuclear facility unaffected.
Australian Economy Shows Resilience Amid Global Volatility
In a sharp contrast to the escalating geopolitical tension, Australia’s private sector reported its strongest growth in six months. The S&P Global Flash Australia Composite PMI climbed to 52.6 in July, up from 50.4 in June, driven primarily by a surge in the services sector.
The Services PMI jumped to 53.0 from 50.5, while Manufacturing PMI edged higher to 51.7. Analysts suggest that while domestic demand remains robust, persistent weakness in international demand and rising fuel costs—linked to the Middle East conflict—remain significant headwinds for the Australian dollar and trade-exposed firms.
Market Impact and Energy Security
The ongoing conflict is exerting significant pressure on global energy markets. With the Strait of Hormuz largely closed and new Houthi attacks reported in the Red Sea, Brent crude has surged past the $100 mark.
Defense contractors and energy firms are seeing increased volatility. Investors are closely monitoring major energy players like Exxon Mobil (XOM) and Chevron (CVX), as well as defense giants like Lockheed Martin (LMT) and Raytheon Technologies (RTX), as the U.S. maintains a force of over 50,000 service members in the region to enforce maritime blockades and protect shipping lanes.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.