Strait of Hormuz & Shipping Security: Japan’s PM Sanae Takaichi held talks with Iran’s president, urging “free and safe” passage for Japanese ships as Hormuz remains effectively constrained and diplomacy stays fragile. US-Iran Talks: Trump says a deal to extend the truce and reopen Hormuz is possible “over the next week,” despite reports Iran suspended indirect talks after Lebanon escalation; he also says the US won’t lift its port blockade. Lebanon Ceasefire Friction: Trump hailed a US-brokered halt to attacks, but Israel and Hezbollah both signaled the truce is shaky, with strikes and cross-border fire continuing. Maritime Incidents: A cargo ship near Iraq’s Umm Qasr was hit after a drone attack, with fire reported; Iran also claims cruise-missile damage to an MSC vessel in the Arabian Gulf. Regional Logistics & Infrastructure: Iraq’s Nasiriyah International Airport is set to open soon, while Syria’s air traffic surged after reroutes, and the Baku-Tbilisi-Kars railway line entered full service, boosting regional freight capacity. Energy Market Watch: Oil prices dipped after a volatile rally as traders weighed mixed US-Iran signals and renewed Hormuz risk. Local Transport/Trade: Egypt reported wheat procurement topping 4.3 million tons, supported by expanded collection points to cut farm-to-mill transport distances. Business & Policy: Reuters found only about a third of euro-zone firms plan price hikes tied to the Iran war, hinting demand pressure is limiting inflation pass-through.