Renewed missile exchanges between the U.S. and Iran over the Strait of Hormuz triggered a global market sell-off on 13 July 2026, with airline and travel stocks hit hardest as Brent crude surged 4.1% to $79.12 per barrel[1][5]. President Trump’s announcement of a reinstated naval blockade and a 20% toll on cargo threatens ~20% of global oil transit, directly eroding operator margins already strained by thin profitability[1][4][11]. The ceasefire collapse triggered fresh U.S. airstrikes and Iranian missile/drone attacks on commercial vessels, forcing airspace closures across Kuwait, Jordan, and Qatar while depressing equities in the travel sector[1][3][6]. Defense shares slipped 1.4% while energy stocks rose 2.2%, highlighting stark sector divergence as fuel costs approach $4.88 per gallon, a near 100% increase from six months prior[1][15][20].