NASDAQ 100 futures drop over 1% as oil tankers attacked in Strait of Hormuz

Two oil tankers were attacked in the Strait of Hormuz, and within hours NASDAQ 100 futures had dropped more than 1%. For a market that had been relatively comfortable ignoring geopolitical noise for much of 2026, this was the kind of wake-up call that actually stings. The strikes, attributed to Iran’s Islamic Revolutionary Guard Corps (IRGC), targeted commercial vessels transiting one of the most strategically vital waterways on the planet. About 20% of the world’s oil and LNG shipments pass through the Strait of Hormuz on any given day. What happened in the Strait The IRGC reportedly hit multiple commercial vessels, including a Qatari LNG tanker and a Saudi crude tanker. The maritime threat level in the area has been elevated to “severe.” Daily transits through the Strait plummeted to single digits during the worst of the conflict, compared to a typical average of roughly 100 vessels per day. Oil prices responded accordingly. Brent and WTI benchmarks surged between 3% and 9% in the wake of the attacks, with prices pushing toward the $90 to $100 per barrel range. Shipping companies have confirmed damage to multiple tankers, with further incidents reported on July 13, 2026. War-risk...