YONHAP reported on the 28th that a white-phosphorus leak at a US military base in Pyeongtaek, Gyeonggi Province, South Korea, has been contained and cleanup completed; no casualties reported.

Brazil said it has requested consultations with the United States under the WTO dispute settlement mechanism.

Oil extended its decline despite rising Red Sea risk as a temporary easing of U.S.-Iran hostilities and diplomatic efforts weighed on risk premia. Iran and Oman are reportedly seeking an agreement to reopen the Strait of Hormuz. The Caspian Pipeline Consortium terminal resumed loading after a one-week suspension, adding downward pressure. Saudi Arabia said it intercepted drones launched by Iran-backed Iraqi militias against oil facilities. Goldman Sachs data show Persian Gulf crude flows have fallen to 41% of pre-war levels; Red Sea flows fell by more than 3.0 mln b/d last week as Saudi shipments were rerouted via the Suez Canal and Russia sharply reduced Red Sea exports. Despite the selloff, supply risk remains elevated.