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U.S. API crude oil inventories for the week to July 17 will be released in ten minutes.

Market sources indicate that U.S. Chairman of the Joint Chiefs of Staff General Dan Kane has not explicitly stated whether a U.S.-Iran conflict would include ground troop operations.

The Dow Jones Industrial Average rose 385.56 points, or 0.74%, to close at 52,224.82 on Tuesday, July 21; the S&P 500 rose 65.91 points, or 0.89%, to close at 7,509.19; and the Nasdaq Composite rose 329.13 points, or 1.29%, to close at 25,837.21 on Tuesday, July 21.

Ukrainian President Zelensky: Under the leadership of the new Commander-in-Chief of the Armed Forces, Ukraine will continue to carry out deep strikes against Russian targets.

U.S. Defense Secretary Hegseth: The conflict between the United States and Iran has cost approximately $37.5 billion so far.

The U.S. military stated that as of July 21, the U.S. military had altered the course of eight commercial vessels and rendered one vessel immobile during the blockade operation, in order to fully implement the blockade against Iran.

U.S. Defense Secretary Hegseth: Without more funding, some training will need to be urgently curtailed.

U.S. Senator Collins stated that some branches of the U.S. military are facing recent funding challenges.

U.S. President Trump: Has directed the government to allow all U.S. airlines to open direct flights to Lebanon.

U.S. Defense Secretary Hegseth: Iran has previously been given "all opportunities" to negotiate on the Strait of Hormuz issue. If Iran attacks commercial ships, the United States will counterattack with "10 times intensity."

Market News: According to people familiar with the matter, Pakistan is seeking a US$10 billion foreign exchange stabilization mechanism from the United States to increase foreign exchange reserves and ease financial pressure.

According to Axios, Anthropic's spending on lobbying the U.S. government in the first half of this year has already exceeded the level of the entire previous year.

U.S. Defense Secretary Hegseth: The Pentagon urgently needs an additional funding plan totaling $67 billion. That includes $1.5 billion to address mission-critical fuel shortages and $2 billion to replenish equipment lost or damaged in combat.

When an Iranian missile hits its intended target, it means that U.S. air defense systems either failed to intercept it or did not even detect the incoming missile in the first place. But if this happens more than once, as it has in Jordan over the past week, it’s no longer a slippery slope but a problem for the United States. Last week, Iran launched precision-guided weapons that evaded Jordanian and U.S. missile defense systems and successfully hit their targets, twice in a row. When asked why Iran was able to use missiles to attack US military bases in Jordan last week, Speaking at the White House on Tuesday, President Trump suggested that there were "other operators" at the Jordan base and that "something slipped through." Trump did not elaborate further on who the "other operators" he was referring to or what role they played in protecting U.S. troops in Jordan. The U.S. Department of Defense admitted on Monday that nearly 100 U.S. military personnel have been injured after being attacked by Iran at multiple bases in the Middle East this month alone. This figure does not include recent attacks in Jordan. A senior regional military analyst said, Improved Iranian capabilities are partly responsible for the increase in U.S. casualties. Retired Jordanian Lieutenant General Qasid Mahmoud, former deputy chief of staff of the Jordanian Armed Forces, said: "Iran has advanced missile technology. They are developing technology and capabilities to expand the strike range and combine it with drone operations to suppress the radar defense system." He said: "Iran will use some simple missiles to interfere with the radar, and then launch missiles with better performance, and these missiles will change the direction of the final target within the last 30 to 40 kilometers." He said that this change in flight trajectory increases the difficulty of intercepting missiles.

Market News: Security sources said that three explosive-laden drones were shot down near the U.S. Consulate in Erbil, Iraq.

President Trump said Tuesday that the U.S. military will bomb Iran's "Gazelle Hill" underground facility, which the U.S. and Israel suspect may be used for nuclear activities. Trump made the remarks during a White House meeting with the Lebanese president, signaling that he is not currently seeking a ceasefire but rather leans towards further escalation of military action against Iran. Trump stated that the U.S. believes Iran "may" have stored centrifuges at the facility, but added, "We have no record of that." He said that even if Iran did store centrifuges, "it wouldn't make sense unless they have (nuclear) material." He stated that Iran currently does not possess nuclear material. However, according to AXIOS, it is unclear whether the U.S. military possesses bombs capable of penetrating the rock layers of the deep underground facility. Even if the target is not completely destroyed, a U.S. attack could still damage the facility and block its access routes.

According to Iranian media Fars News, the area attacked in Bahrain was a location where US military personnel were stationed.

According to Iran Press TV: An explosion occurred near the U.S. Consulate in Erbil, the capital of Iraq’s Kurdish region.

The Fed accepted a total of $275 million from one counterparty in fixed-rate reverse repurchase operations.

US House of Representatives Speaker Johnson: The war with Iran must end.