International News 21 July 2026
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China Securities Regulator Holds Market Talks After US$1.48 Trillion Stock Selloff
China's securities regulator will meet with market participants on Monday to discuss measures aimed at stabilizing the country's stock market after a sharp selloff wiped out around 10 trillion yuan (US$1.48 trillion) in market value over the past two weeks. According to Reuters, the China Securities Regulatory Commission (CSRC) has invited market participants to provide recommendations on policies that can support the stable and healthy development of China's capital markets. State-backed Securities Times reported that the meeting will serve as a platform for regulators to gather industry feedback on measures needed to restore investor confidence. In addition, the China Securities Journal reported that the CSRC will hold a series of discussions with securities firms, asset managers, and listed companies over the coming days. The consultations are expected to help shape a broader package of market stabilization policies aimed at improving sentiment and supporting China's capital markets.
Iran’s IRGC Claims Two Oil Tankers Exploded While Transiting Strait of Hormuz
The Islamic Revolutionary Guard Corps (IRGC) claimed that two oil tankers suffered explosions and were unable to continue their voyage while transiting the southern route of the Strait of Hormuz on Monday. According to Reuters, the IRGC alleged that the vessels had attempted to use what it described as an unsafe shipping lane and accused the U.S. military of directing commercial ships through the route. Reuters noted, however, that it was unable to independently verify the claims. The IRGC did not disclose the identities of the vessels, the flags they were sailing under, the nationalities of their crews, or whether there were any casualties. In its statement, the Iranian military warned that the Strait of Hormuz would remain unsafe as long as what it called U.S. "aggression" in the region continues. It also asserted that the waterway would not be secure for petrochemical shipments, declaring that "not even a single drop of oil or gas" could move safely through the strait under current conditions.
U.S. Gasoline Prices Climb Above US$4 per Gallon as Iran Conflict Disrupts Energy Supplies
U.S. gasoline prices rose above US$4 per gallon on Monday after renewed conflict between the United States and Iran disrupted energy flows through the Strait of Hormuz, a critical route for global oil shipments. The latest escalation in geopolitical tensions has fueled higher fuel costs and increased volatility in global energy markets. According to data from the American Automobile Association (AAA), the national average retail gasoline price reached US$4.0030 per gallon on Monday. That represents an increase of more than 30% compared with levels before the United States and Israel launched military strikes against Iran in late February. The US$4-per-gallon threshold has long been viewed as a significant financial burden for many American households. Gasoline prices last reached that level in late March after Iran halted shipping traffic through the Strait of Hormuz, a waterway that handled roughly 20% of global oil supplies before the outbreak of the conflict.