As the U.S. lifted sanctions on related cargoes and permitted more buyers, over 30 mln barrels of Iranian crude flowed to Asia in the past week, including previously blocked cargoes and volumes from Kharg Island, Iran’s largest export terminal in the northern Persian Gulf. The surge — pushing shipments to about 2.0 mln bpd, a recent high for Iran — mainly reflects a clearing of blocked cargoes and may prove temporary; export rates could fall thereafter. In the near term Tehran stands to benefit

According to an SEC filing, SpaceX (SPCX.O) has begun offering senior unsecured notes and will use net proceeds to repay outstanding borrowings.

Starmer announced he will resign as UK prime minister following a successful internal challenge, clearing the way for Andy Burnham to succeed him. Burnham, the long-serving mayor of Manchester, won a parliamentary seat last week, making him eligible to mount a leadership challenge. Starmer said his parliamentary party had answered the question of whether he remained the best person to lead into the next election and that he accepted their view. Labour leadership nominations open July 9 and the contest will be completed by Sept. 1; Starmer will remain in office until the process concludes and said he will do everything to ensure a smooth handover.