🔴 BREAKING (May 24): US & Iran near deal to extend ceasefire 60 days & fully reopen Strait of Hormuz — de-mining & US port-blockade lift both part of framework (Washington Post, May 24) ◆ 🗣️ Trump (May 23): Iran deal "largely negotiated, subject to finalization" — announcement expected imminently; Iran's Fars agency disputes details as "incomplete" (CNBC, May 23) ◆ ⚓ Iran IRGC (May 20): 26 vessels coordinated through Hormuz in 24 hrs under new controlled-transit regime — Tehran publishes exclusion-zone map (Al Jazeera, May 20) ◆ 🏗️ UAE (May 20): Hormuz-bypass pipeline now nearly 50% complete — Abu Dhabi accelerating construction to ensure export independence from strait (CNBC, May 20) ◆ 🇬🇧 UK deploys drones, fighter jets & Royal Navy warship to Hormuz — joins US-led international mission to protect commercial shipping (May 2026) ◆ 📊 Cumulative losses top 1 billion barrels since Feb 28 — ~100 mb/week still being lost; global inventories at multi-decade lows (IEA OMR May 2026) ◆ 📉 OPEC MOMR May 2026: Hormuz closure cuts cartel output 30% — 9.7 mb/d lost; UAE exit from OPEC effective May 1 (OPEC, May 13) ◆ 🚨 IEA OMR May 2026: 14+ mb/d now shut in — global supply at 95.1 mb/d; total losses since Feb hit 12.8 mb/d; demand to contract 420 kb/d in 2026 (IEA, May 13) ◆ 🔴 BREAKING (May 24): US & Iran near deal to extend ceasefire 60 days & fully reopen Strait of Hormuz — de-mining & US port-blockade lift both part of framework (Washington Post, May 24) ◆ 🗣️ Trump (May 23): Iran deal "largely negotiated, subject to finalization" — announcement expected imminently; Iran's Fars agency disputes details as "incomplete" (CNBC, May 23) ◆ ⚓ Iran IRGC (May 20): 26 vessels coordinated through Hormuz in 24 hrs under new controlled-transit regime — Tehran publishes exclusion-zone map (Al Jazeera, May 20) ◆ 🏗️ UAE (May 20): Hormuz-bypass pipeline now nearly 50% complete — Abu Dhabi accelerating construction to ensure export independence from strait (CNBC, May 20) ◆ 🇬🇧 UK deploys drones, fighter jets & Royal Navy warship to Hormuz — joins US-led international mission to protect commercial shipping (May 2026) ◆ 📊 Cumulative losses top 1 billion barrels since Feb 28 — ~100 mb/week still being lost; global inventories at multi-decade lows (IEA OMR May 2026) ◆ 📉 OPEC MOMR May 2026: Hormuz closure cuts cartel output 30% — 9.7 mb/d lost; UAE exit from OPEC effective May 1 (OPEC, May 13) ◆ 🚨 IEA OMR May 2026: 14+ mb/d now shut in — global supply at 95.1 mb/d; total losses since Feb hit 12.8 mb/d; demand to contract 420 kb/d in 2026 (IEA, May 13) ◆