According to Saudi Arabia's Al Arabiya TV, the foreign ministers of Saudi Arabia, Egypt, Turkey, and Pakistan met in Amman and reaffirmed the importance of joint efforts to ensure the security of the Strait of Hormuz and the Bab el-Mandeb Strait. The

Iran's deputy foreign minister said Iran and Oman have reached broad consensus on almost all outstanding issues.

Energy: 1. The Hormuz crisis pushed up oil prices, with Saudi Aramco's Q2 profits increasing by 33%. 2. Goldman Sachs predicts Brent crude will remain in the $80-$90 range until the situation in Iran becomes clearer. 3. According to the Oman News Agency: Today's official price for Oman crude oil for October delivery is $83.51 per barrel. 4. According to sources and Reuters calculations, Russia's seaborne petroleum product exports fell 33% month-on-month in July. 5. Sources: Syria has reportedly agreed to significantly reduce its Russian oil imports in exchange for the US lifting its designation as a state sponsor of terrorism. 6. The US oil import price in June was $86.06 per barrel, up 37.6% from $62.53 per barrel in June 2025 (compared to $87.44 per barrel in May). 7. According to CNBC: BP's CEO stated that the company is increasing production of jet fuel and diesel, as these supplies remain tighter than gasoline. 8. Saudi Aramco CEO: We will continue to fully utilize all export routes, including the Bab el-Mandeb Strait, the Suez Canal, the Sumed Pipeline, and the Strait of Hormuz. We plan to continue exporting approximately 5 million barrels per day of crude oil. Oil demand remains strong. We are in a supply crisis, not a demand crisis. 9. OPEC member countries increased supply by 1.16 million barrels per day in July, to an average of 19.44 million barrels per day, with the three major Persian Gulf countries contributing almost all of the increase. 10. US Energy Secretary Wright: Fuel prices should decline in the coming weeks. Agriculture/Mining: 1. LME three-month copper broke through $14,000/ton for the first time since June 3. 2. South Korea plans to establish a resource security fund to strengthen reserves of key minerals and energy. 3. Vietnam Food Association: Seeking to set a minimum price for rice exports. 4. Argentine Exporters and Processors Association (CIARA-CEC): A strike by Argentine maritime workers has prevented ships from entering or leaving grain ports. 5. The U.S. government is seeking public comment in the Federal Register on expanding the scope of metal tariffs, proposing tariffs on products such as welding machines and cranes. 6. The freeze on Rio Tinto's acquisition of Glencore expires this week, but according to executives, no new merger negotiations are currently expected. 7. Foreign media: Ukraine is seeking alternative food export routes, suffering losses due to Russia's blockade of Black Sea ports. 8. The U.S. restricts exports of tungsten scrap and battery recycling materials. Iran Situation: 1. The White House plans to extend the Jones Act waiver to ease pressure on gasoline prices. 2. Iran: "Positive progress" has been made in negotiations with Oman regarding the Strait of Hormuz. 3. U.S. media: Iran is considering allowing Europe to conduct mine clearance in the Strait of Hormuz. 4. An Indian vessel sank 13 miles off the coast of Hodeidah after being attacked by an unmanned surface vessel. 5. According to Axios, the U.S. plans to announce an agreement on the Strait of Hormuz on Wednesday. 6. An informed Iranian official stated that US intervention and threats of military action were the main reasons for the delay in reaching an agreement between Iran and Oman on the Strait of Hormuz. Other: 1. The Turkish Foreign Ministry expressed serious concern over attacks on civilian vessels in the Black Sea, despite warnings. It called on all parties in the Black Sea to take measures to ensure the safety of navigation. 2. A federal appeals court ruled that the US Environmental Protection Agency was unable to recover approximately $20 billion in clean energy grants from several non-profit organizations, a setback for the Trump administration. 3. The governor of Texas ordered a halt to approvals of new data center projects through the state's grid interconnection process, citing concerns that surging electricity demand could threaten grid reliability.