AFBytes Quarter Rundown — Monday, July 13, 1:00 PM ET

Here's what's been making headlines today — the last 24 hours in a nutshell. Oil prices increased after renewed clashes between the U.S. and Iran over control of the Strait of Hormuz. The escalation comes days after the collapse of a prior ceasefire declaration. Higher oil prices directly raise gasoline costs and heating bills for American households and truck drivers. Energy price spikes also feed into broader inflation affecting groceries and transport. That's why securing this vital trade route is so crucial for our economy. Iran stated it carried out strikes on a U.S. refueling site. The exchanges mark a sharp escalation in ongoing hostilities. Direct military exchanges raise the risk of wider conflict that could affect U.S. troop deployments and energy markets. That's why it's so important for both sides to de-escalate and avoid further tensions. Iran's armed forces stated they will prevent any US involvement in managing traffic through the Strait of Hormuz. The warning also targeted Gulf states that might cooperate with Washington on waterway security. Disruptions at the Strait of Hormuz raise global oil prices that flow directly into US gasoline costs and household energy budgets. Shipping delays also affect supply chains for imported goods that reach American consumers. That's why securing open sea lanes is vital for our national security and economy. The long-running dispute between Iran and the United States over control of the Strait of Hormuz entered its 135th day. Both sides maintain competing claims to authority in the waterway. Disruptions at the Strait of Hormuz directly influence global oil prices that feed into U.S. gasoline costs and household energy budgets. That's why securing this vital trade route is essential for our economy and national security. The interim U.S.-Iran agreement signed in June is fraying amid renewed clashes. Disagreements center on passage rights through the Strait of Hormuz. Disruptions in the Strait of Hormuz directly raise global oil prices that feed into U.S. gasoline costs and household energy budgets. That's why it's crucial for both sides to work together to maintain stability in this vital trade route. That's the day from where we sit — thanks for spending part of it with us. Stay with us at AFBytes for what's next.