US-Iran standoff and Hormuz shipping fears: Trump says there are “no talks” with Iran and insists the Strait of Hormuz is open, but Iran disputes that and warns the claim will be “corrected,” while limited traffic and reported attacks on vessels keep crude climbing toward $92 and pressure markets and inflation expectations. Energy markets: Oil has risen for a fourth straight session as ceasefire hopes fade; investors also watch diesel tightness and higher bond yields, with India’s Sensex/Nifty slipping early on the risk-off mood. Iraq oil exports: Iraq’s cabinet approved a three-month mechanism starting Sept. 1 to export crude via specialized local and international firms, aiming to diversify routes amid Hormuz disruption. Iran-Iraq diplomacy: Iran’s parliament speaker Mohammad Baqer Qalibaf arrives in Baghdad, calling Iran-Iraq ties “unbreakable” as talks cover border security, counterterrorism and economic cooperation. Turkey’s Kurdish peace law: Turkey’s “Terror-Free Turkey” process is framed as domestic security, but analysts warn it could reshape Ankara’s foreign policy room with Iraq and Syria. Regional security pact: Pakistan, Saudi Arabia and Türkiye sign the Mecca Joint Defense Pact, treating an attack on one as an attack on all—often compared to NATO-style commitments. Israel-Syria escalation: Israel strikes a Syrian air base in Idlib; Turkey rejects Israeli claims and the US condemns “unnecessary escalation,” adding to regional tension. Local politics with Middle East echoes (US): Florida primaries set up major races where pro-Israel and anti-Israel politics, plus antisemitism and Islam-related rhetoric, remain central themes.