Strait of Hormuz Shipping Shock: A Qatari LNG tanker (Al Rekayyat) was hit off Oman and caught fire after a projectile, while reports also said Iran’s Revolutionary Guards fired missiles at other commercial ships—raising fresh alarms for energy logistics even as an interim US-Iran framework aims to keep passage open. Oil Market Signals: OPEC+ approved a modest August production increase (188,000 bpd) as crude prices slid, with the Strait’s volatility still weighing on risk premiums. Iran-US Nuclear Standoff: Iran’s foreign minister said talks on a final nuclear deal won’t restart unless US threats stop, after Trump warned “deal or finish the job,” tying diplomacy directly to military posture. NATO and Defense Industry Push: NATO leaders meeting in Ankara are set to showcase multibillion-dollar arms deals to prove capability and spending—amid Trump skepticism and renewed focus on Gulf security. Israel-Linked Regional Security: IDF Northern Command officials reportedly doubt Lebanon’s army will effectively dismantle Hezbollah infrastructure under the Lebanon framework, while engineering destruction efforts continue. Rare Earth Supply Chain: Lynas and South Korea’s JS Link signed a Malaysia magnet-factory partnership, targeting NdFeB production for autos, wind and electronics. Israel Economy Watch: The Bank of Israel cut its benchmark rate to 3.5%, citing inflation and the strong shekel.