AGP Executive Report
Last update: 2 hours agoUS-Iran Escalation: The US launched its seventh straight day of strikes on Iran, hitting bridges and collapsing a tower at Chahbahar Port while Tehran retaliated by targeting US-allied Gulf states, including Kuwait’s power and desalination facilities, as sirens sounded in Bahrain, Jordan and beyond. Strait of Hormuz Pressure: Shipping disruptions returned as the US resumed a naval blockade and Marines boarded a tanker near Hormuz, while Iran warned of wider consequences for regional infrastructure. Regional Spillover: Pakistan said attacks on Saudi Arabia by Iran-aligned Houthis are “attacks on Pakistan,” complicating its role as a mediator after a recent US-Iran interim deal. Energy & Markets: Oil jumped on escalation fears and gold struggled to hold the $4,000 level amid renewed inflation worries. Iraq-Syria Energy Deal: Iraq and Syria signed a US-backed plan to revive the Kirkuk-Baniyas crude pipeline, aiming to reduce dependence on Hormuz routes. UAE Economic Outlook: The IMF said the UAE economy and banking sector show resilience amid regional shocks.
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