- Iran said it stopped two vessels seeking to exit the Strait of Hormuz and reported that four other tankers turned back after Iranian intervention; Reuters stated the reports lacked independent confirmation.
- Shipping data recorded two large Gulf-loaded oil tankers and two commodities vessels transiting the strait, while Iran has blocked most shipping through Hormuz since the conflict began.
- Oil prices rose more than 1% on July 31, and Brent was on track for a 23% gain in July amid disruptions at Hormuz and threats to the Bab el-Mandeb route.
- Brent remained near $90 a barrel despite heading for an 8% weekly decline, as disruption risks in Hormuz and the Red Sea supported prices.
Quotes
“All you can do is keep winning, then eventually something will happen”