On Aug. 2 Iran’s foreign minister Araghchi told a cabinet meeting negotiations with Oman on arrangements to manage safe navigation in the Strait of Hormuz are progressing smoothly, have entered a final stage and are nearing completion. On July 26 Iran’s foreign ministry spokesman Baghaei said talks with Oman on common principles and operational mechanisms for Strait of Hormuz maritime security were productive and had made some progress. Araghchi spoke by phone on July 27 with the foreign ministe

China International Capital Co (CICC) says global AI-related chains have sold off sharply since mid‑late June, with Korea hardest hit where high leverage, crowding and retail exposure amplified the decline. Drivers include amplified positioning risk, macro shocks (re‑pricing of Fed rate hikes and renewed Strait of Hormuz disruption pushing oil), and renewed froth concerns (eg. cloud compute rentals, falling token spend). CICC notes the tech run-up before the 2000 crash saw at least four large, prolonged pullbacks triggered by similar factors—industry hiccups, macro headwinds and overheated sentiment—and only rebounded once those three pressures eased. By analogy, CICC says market stabilization or a fresh leg higher now requires: substantial digestion of crowding/leverage; relief or resolution of Fed tightening expectations (watch the July FOMC); and new earnings/industry catalysts during the July–August reporting season.

Five former Trump administration officials say the White House has few good options after Iran demanded control of the Strait of Hormuz as a condition for ending hostilities. Senior U.S. officials, including Secretary of State Rubio, have warned against any deal that would allow Iran de facto control of the strait, saying it would complicate future U.S. sanctions enforcement by requiring waivers for transit payments and would weaken international pressure on Iran’s nuclear program; Rubio called it a dangerous precedent. Fractured communications among Iranian factions further complicate negotiations. The impasse arrives with U.S. midterms three months away and U.S. retail gasoline averaging $4.10/gal versus $3.85/gal a month ago. Continued concern over U.S. casualties, attacks on U.S. bases and ongoing Iranian missile threats to Gulf states risk further upward pressure on energy prices. There is no sign of an easy post-election exit. Danny Sitrenovitz, a non-resident Atlantic Council fellow, said any diplomatic settlement could require some Iranian control of the strait—politically unacceptable to many—while further military escalation would likely keep oil prices elevated without guaranteeing Iranian strategic change.