New York silver futures fell to $56/oz, down 3.63% intraday.

Rising tensions around the Strait of Hormuz disrupted contracted supplies from major supplier Qatar, prompting state-owned Pakistan LNG Limited to purchase a spot LNG cargo at about $20.70 per MMBtu in a tender that closed on Wednesday. The cargo, scheduled for July 21-22 delivery, is Pakistan’s highest-priced spot purchase since 2022 after a Qatar-bound cargo was cancelled due to transit disruptions in the Strait.

Israeli president says Israel recognizes Saudi Arabia's importance and the two countries should hold direct talks.