Oman-Hormuz Talks: Oman has sent a delegation to Tehran to discuss mechanisms for managing navigation through the Strait of Hormuz as US-Iran strikes and shipping risks continue. Red Sea Escalation: Saudi Arabia hit Yemen’s Hodeidah after Houthi attacks on Saudi tankers, while the Houthis warn of a naval blockade—raising fears of wider disruption beyond Hormuz. Shipping Risk Pricing: Traders say the chance of Hormuz returning to normal by July 2027 is below 50%, with shipping volumes far below typical levels; insurance and crude premiums are rising. Energy Market Impact (Oman): Middle East crude premiums jumped, with Oman’s premium rising to $12.62 a barrel, reflecting rerouting and tighter supply. UNIDO Industrial Push: UNIDO highlighted Oman’s clean-energy industrial drive, citing progress in photovoltaic manufacturing ambitions supported by procurement and foreign investment. US Trade Shock: The US launched forced-labour tariffs on 60 economies and the entire EU, adding another layer of uncertainty for regional trade flows. Maritime Safety: India’s embassy said all 28 Indian crew on a Mozambique-flagged LPG tanker attacked near Hormuz are safe, underscoring ongoing risks to seafarers.