IRGC Ship Strike Triggers US Strikes on 140 Iran Targets; Oil Prices Set to Climb | Rapid Read 12 July 2026

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SPECIAL EDITION HORMUZThe IRGC attack on the Cyprus-flagged container ship M/V GFS Galaxy occurred on July 11, 2026, in the Strait of Hormuz.The Islamic Revolutionary Guard Corps (IRGC) Navy forces fired upon or struck the vessel after it transited using an unapproved route or ignored Iranian directions regarding approved paths through the waterway. Iranian authorities viewed this as unlawful interference by outside parties. The attack caused heavy damage to the ship’s engine room, resulting in a fire. The crew abandoned the vessel and took to a lifeboat. One crew member remains missing.Following the incident, the IRGC announced the closure of the Strait of Hormuz “until further notice” and “until the end of US interference in the region.” No vessels or naval craft would be allowed to pass. An IRGC statement carried by Tasnim News Agency stated: “Given the precariousness that was caused by this unlawful interference by outside parties, the Strait of Hormuz is to be closed until further notice and until regional interference by the US ceases. No vessel or naval craft will be allowed to pass.”US Central Command described the action as IRGC forces having “blatantly attacked” the commercial ship.The United States responded with retaliatory strikes later on July 11, 2026.US Central Command launched airstrikes beginning around 7:15 p.m. Eastern Time. This marked the third round of US strikes that week. The operation targeted approximately 140 Iranian military sites, including missile and drone sites, ammunition storage facilities, communication networks, naval capabilities, and coastal surveillance locations. The strikes continued for roughly four hours and concluded in the early hours of July 12.CENTCOM stated that the action responded directly to the attack on the civilian vessel and formed part of efforts to hold Iran accountable for prior incidents involving commercial shipping. A CENTCOM statement noted: “The United States is imposing a heavy cost by continuing to degrade Iran’s ability to attack civilian mariners