US and Iran are trading strikes over a key oil route

U.S. Central Command completed its third round of airstrikes against Iran on July 11, hitting roughly 140 military targets. This action followed Iranian attacks on a commercial vessel in the Strait of Hormuz, a route carrying one-fifth of global oil. Separately, funeral ceremonies occurred in Karbala, Iraq, for late Supreme Leader Ayatollah Ali Khamenei, who was killed on February 28 during joint Israeli and U.S. airstrikes. Mourners gathered holding portraits of Mojtaba Khamenei and the late leader.