Musk: Once we've completed our review of the security vulnerabilities, we will open-source the entire X codebase.

Israeli Channel 12 reports Prime Minister NETANYAHU is expected to visit Washington next week; itinerary remains subject to change.

Energy 1. Solar power accounted for 25% of EU electricity generation in June, a record high. 2. Kpler: Russian refining output fell to its lowest level in 21 years after drone attacks. 3. BP expects continued growth in oil trading revenue in the second quarter, while upstream production will decline. 4. Market news: Shell received further tax breaks in its $20 billion Nigerian oil project. 5. Trump stated that the US will reach a major deal with Iraq and extract significant amounts of oil from Iraq. 6. Goldman Sachs: If the recovery in Gulf exports continues to stall and production rebounds are delayed, Brent crude prices could break through $110 per barrel in the fourth quarter of 2026. 7. Turkish Energy Minister: Iraq has requested, under the agreement, to retain 750,000 barrels per day of oil transportation capacity to continue transporting oil through the Kirkuk-Ceyhan pipeline for 12 months. 8. Chairman of the Petroleum Association of Japan: Japan will study how to participate in the plans of Middle Eastern oil-producing countries to increase exports by bypassing the Strait of Hormuz, such as by expanding pipeline capacity. Agriculture/Mining 1. Indonesia's palm oil stocks rose 18.9% month-on-month to 3.042 million tons in May. 2. ANZ Bank lowered its year-end gold price forecast to $4,600 per ounce and its 12-month forecast to $5,400 per ounce. 3. Statistics South Africa reported a 4.3% year-on-year decline in South African gold production in May. Platinum group metals production also declined 4.4% year-on-year. April's revised figure showed a 0.4% year-on-year decline in gold production, down from an initial estimate of a 0.2% decline. Iran Situation 1. Iran claims to have struck US military facilities in multiple locations in the Middle East. 2. The US military claims to have completed a new round of strikes against Iran, lasting seven hours. 3. Japanese media reports that all Japanese oil tankers have left the Strait of Hormuz. 4. Trump threatens to strike Iranian bridges and power plants to pressure Iran to restart negotiations. 5. Trump: Only blockade Iranian shipping, replacing the US's 20% compensation fee with Gulf investments. 6. Iran claims the US attack will prevent the region from exporting "not a drop of oil." 7. Data shows that a small number of ships still pass through the Strait of Hormuz after the US reinstated its blockade of Iranian shipping. 8. German shipping giant Hapag-Lloyd: Imposing passage fees in international waters is fundamentally wrong. 9. The US supports restarting the Iraq-Syria oil pipeline to weaken Iran's influence in the Strait.