Oil & Shipping Shock: Oil jumped to a four-week high as the US reimposed a naval blockade of Iran and renewed strikes around the Strait of Hormuz, with Brent around $86 and WTI near $80, while Iranian attacks hit UAE tankers and tanker traffic fell as shipowners showed less appetite for risk. Yemen–Saudi Escalation: Yemen’s internationally recognized government said it struck Sana’a airport to stop an Iranian-linked flight, while Houthis retaliated by targeting Saudi Arabia’s Abha airport and warning airlines off Saudi airspace—signaling the end of a fragile truce and raising fears of spillover toward Bab al-Mandeb. Regional Diplomacy at the UN: Pakistan reaffirmed support for Saudi Arabia at an emergency UNSC session, condemning Houthi missile attacks and urging dialogue to prevent further escalation in Yemen. Business & Trade Ripple: The Hormuz and Yemen flare-ups are feeding broader energy-cost and logistics uncertainty, while shipping firms continue adjusting routes through Suez/Red Sea corridors as security risks shift. Local Health Pressure: Rabies cases are rising sharply in Yemen’s provinces, with shortages of antiserum and rabies medication adding urgency for public health action. Blue Economy Deal: ECO Canada and the YemBlue Initiative announced a partnership to build Yemen’s marine monitoring and sustainable blue economy skills, including a professional certification push. Gulf Financial Tension: Reports say Saudi banks have blocked or delayed payments to UAE accounts since May, adding another layer of strain to Gulf business ties.