Hormuz Ceasefire Talks: US and Iran negotiators agreed a 60-day framework to extend the truce and reopen the Strait of Hormuz to commercial shipping, but it still needs Trump sign-off, with mine removal and monitoring plans at the center. Sanctions Pressure: The US also hit Iran’s new Strait Authority with fresh sanctions, targeting entities tied to tolling and transit control. Energy Markets Watch: US Treasury’s Scott Bessent said oil prices could fall quickly if Gulf shipping disruptions ease, arguing supply remains adequate. Air Demand Down: IATA reported global air passenger demand fell 3.4% in April amid Middle East war impacts, while air cargo demand rose 4.0% as routes and capacity stayed strained. New LNG Route: ZIM launched a direct LNG-powered service from Vietnam to the US East Coast via its ZXB network, boosting Cai Mep-Thi Vai’s ultra-large vessel capability. Rail Merger Review: Regulators accepted Norfolk Southern–Union Pacific’s merger filing as complete, but paused formal review pending supplemental details by July 27. Road Logistics Growth: Kazakhstan said Trans-Caspian International Transport Route traffic has grown sixfold since 2020, reaching 4.5m tons in 2024. Safety Tech: AI road cameras in South West England are credited with cutting fatalities and serious injuries, including seatbelt and phone-use detection drops. Local Disruption: LRT services in Kuala Lumpur are set to resume after a derailment, with repairs expected to take days and full normalization up to 10 days.