Hormuz Shipping Shock: Strait of Hormuz traffic plunged again after Trump declared the US-Iran truce “over,” with only 14 vessels transiting reported and LNG/crude flows disrupted despite some LNG tankers resuming. Sanctions & Enforcement: The US Treasury added fresh Iran-related sanctions on people, entities and tankers tied to petroleum sales and weapons supply chains. Diplomacy vs Escalation: EU plans solidarity with Gulf states at a Brussels high-level meeting, while US officials say technical talks continue even as strikes and retaliations trade blows across the region. Transport Targets Expand: US strikes hit Iran’s rail links, including a bridge connecting Tehran to Mashhad, underscoring how logistics corridors are becoming military priorities. Legal Fallout for Seafarers: Three former crew members of a Thai ship attacked in the Strait of Hormuz sued the operator in Bangkok over alleged labour rights violations. Energy Market Readthrough: IEA said June saw a global oil supply rebound as Hormuz shipments improved, but output remains well below pre-war levels due to ongoing security disruptions. Regional Infrastructure Watch: Syria’s sanctions-free path appears to advance as the US moves to rescind its terrorism designation, potentially reopening investment channels. LNG Fleet Build: ADNOC ordered four new 175,000 cu m LNG carriers for delivery from 2029, betting on long-term demand even amid Hormuz volatility.