Gulf Escalation & Oil Shock: Iran’s strikes hit Kuwait International Airport, damaging the passenger terminal and injuring people, while the US carried out retaliatory strikes near the Strait of Hormuz—pushing Brent toward $100 and raising fresh fears of supply disruption and higher fuel costs. Ceasefire Talks Under Strain: Iran and the US trade accusations as negotiations stall, with Iran warning any breach on one front would break the wider ceasefire, even as Israel-Lebanon fighting continues. Lebanon Cross-Border Strikes: An Israeli strike south of Beirut hit a car hours before renewed talks in Washington, and separate reports say multiple people were killed in southern Lebanon amid continued ceasefire violations. Markets React: European stocks and US futures slipped as oil climbed on Middle East stalemate, while investors weighed inflation risk and the odds of a diplomatic breakthrough. Regional Economy Watch: Despite Iran-war uncertainty, UAE non-oil activity expanded in May, and Saudi Arabia’s non-oil private sector hit a three-month high—though export orders and costs remain pressured. Security & Hate Incidents: A German hotel apologized after telling an Israeli guest “no Jews allowed,” and London’s Golders Green saw an alleged arson attack on a predominantly Jewish apartment building. Energy Infrastructure Debate: Saudi Aramco warned oil refining has been underinvested, leaving markets more vulnerable when conflict disrupts supply routes.