Middle East Shipping Shock: Iran says it will suspend US peace talks and move to fully close the Strait of Hormuz, while the US reports “self-defense” strikes on Iranian radar/drone sites after a drone shootdown; the flare-up is already pushing oil higher and leaving crews stranded, with the UN shipping agency warning thousands of seafarers still can’t be safely evacuated. Oman’s Diplomatic Role: Commentary highlights Oman’s quiet diplomacy and ongoing talks with Iran on Hormuz management, as Muscat seeks to keep trade routes open without taking sides. CEPA Boost for Trade: India–Oman CEPA comes into force June 1, with duty-free access for 99.38% of Indian export value and a first $1.8m shipment; officials frame it as a gateway for GCC, East Africa and beyond, even as Hormuz disruption raises logistics urgency. Oman Investment & Industry Finance: Oman Investment Authority expands its global portfolio into growth sectors, while Oman is shifting industrial project financing toward demand-led deals with guaranteed offtake to reduce investor uncertainty. Maritime Risk on the Water: A cargo ship off Iraq’s Umm Qasr was hit by a projectile, adding to a week of attacks and mine fears across the Gulf. Markets & Currency: Muscat Stock Exchange reforms and OIA activity support liquidity and emerging-market ambitions; the Omani riyal holds steady strength versus the Pakistani rupee.