Refinitiv: Sources in the Gulf said Oman has proposed a funding mechanism modeled on the Straits of Malacca, where users of the strait voluntarily fund navigation management, environmental protection and search-and-rescue projects. The Oman proposal has won regional support.

The Baltic Dry Index fell 47 points (1.7%) to 2,696, ending a three-day rally and marking its first decline since July 21. The Capesize index dropped 85 points (2%) to 4,200, its lowest since July 23; Capesize daily earnings fell $770 to $34,587. The Panamax index fell 25 points (1.2%) to 1,999, its lowest since May 1; Panamax daily earnings fell $223 to $17,990. The Supramax index slipped 24 points (1.4%) to 1,670.

Mitsubishi UFJ analyst Lee Hardman said the AUD was the worst-performing G10 currency overnight despite being the best YTD. Selling in AI-related chip names and renewed doubts about semiconductor technology progress revived risk aversion and pressured the AUD. Bullock’s remarks contained no near-term hawkish signal, further weighing on the currency, though markets still price one rate hike later this year.