AGP Executive Report
Last update: 10 hours agoOman Mining: Mazoon Copper Project earthworks are finished in Yanqul, Al Dhahirah, clearing the way for faster build-out toward a 2027 launch, with Strabag completing cut-and-fill, roads, ground improvement and slope works for the 20 sq km integrated copper-gold scheme. Strait of Hormuz Watch: Commercial traffic through Hormuz is up slightly, but still far below pre-war levels, as tankers including the Nissos Keros and Eagle Veracruz transit amid ongoing security concerns and war-risk insurance pressure. US-Iran Ceasefire Talks: A 60-day MoU to extend the ceasefire and restart nuclear talks is reportedly close, but still awaits President Trump’s final approval, with both sides trading accusations of truce violations after drone and missile incidents near Bandar Abbas and Kuwait. Hormuz Tolls Pressure on Oman: US Treasury chief Scott Bessent warned Oman over any tolling role, saying there are “no plans for tolling” after assurances from Muscat, while Washington also threatened further sanctions tied to Iran’s Strait Authority. Oil Markets: Saudi Arabia is expected to cut July crude OSPs to Asia as demand softens, even as Hormuz tensions keep Brent under pressure and premiums volatile.
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