Four Fingers News — Sunday, July 12, 2026
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SUNDAY, JULY 12, 2026
FROM THE EDITOR · July 12, 2026
Day 135. So the deadline came — and here’s the answer Washington got back: the strait declared closed, some 140 targets hit before dawn, Iranian missiles falling on Qatar, Bahrain, the Emirates. Yesterday I said I wanted a ship’s wake, not a statement. Today I’d settle for a morning without a launch. Trump’s calling the June deal “over” now; I stopped calling it a deal months ago, back when the ink was still wet. You don’t get to keep re-signing a thing and call it settled. And still the negotiators sit in Muscat, still “keeping technical talks going.” Talking is not the same as stopping. Oil’s up five percent on the week — and that was Friday, before any of this. Leave the bottle.
— T.
The Dispatch
Updated Sun Jul 12 · 6:14 AM PDT
ESCALATION
U.S. Runs a Third Strike Round; Iran Shuts Hormuz and Hits Gulf Bases
U.S. Central Command finished its third round of airstrikes in a week on Saturday night, hitting roughly 140 targets — missile and drone sites, naval assets, ammunition depots — after Iran struck a ship transiting the Strait of Hormuz.
OIL
Crude Ends the Week Up Nearly 5% With a War Premium Intact
Brent settled near $75.50 on Friday, up about 4.7% on the week, as traders carried a risk premium into the weekend with tanker traffic through the strait choked off.
THE FED
Tuesday’s CPI Is the Fed’s Last Inflation Read Before It Meets
June CPI arrives Tuesday, the final inflation reading before the Jul 29 rate decision; economists look for a soft headline and a firmer core near 2.9%.
CONGRESS
Housing Affordability Act Becomes Law After Trump Withholds His Pen
The 21st Century Road to Housing Act — the largest housing-affordability measure in decades — took effect at midnight Friday after Trump let the 10-day clock lapse, declining to sign in protest of the stalled SAVE America elections bill.
NORTHWEST
B and O Fire Drives ‘Go Now’ Orders West of Okanogan
The B and O Fire, which broke out Thursday afternoon along State Route 20 and ran up Pogue Mountain, pushed past 2,000 acres and forced Level 3 “Go Now” evacuations west of Okanogan, with a Red Cross shelter open in Omak.
MARINERS
Rays Beat Seattle Again, 6-1, for an 0-2 Hole in Tampa Bay
Tampa Bay took the middle game 6-1 on Saturday, dropping the Mariners to 0-2 on the Tropicana Field trip after Friday’s series-opening loss.
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