Strait of Hormuz Tensions: A tanker off Oman near the Strait of Hormuz was hit by an “unknown projectile,” sparking a fire; UKMTO said there were no casualties or environmental damage and that authorities are investigating, as reports linked the incident to Iran and renewed worries about the fragile US-Iran ceasefire. Energy Markets: The attack pushed oil and gas higher, with Brent rising and European gas jumping, while traders weighed supply recovery against renewed shipping and insurance risks. NATO in Ankara: President Trump arrived for the NATO summit as the alliance unveiled multibillion-dollar arms and defense initiatives aimed at proving European firepower, with Turkey’s role and the Middle East agenda expected to loom large. GCC Outlook: S&P said GCC sovereign credit quality remains resilient, supported by hydrocarbon recovery and fiscal buffers, but warned prolonged conflict could strain budgets and hit tourism, consumer demand, logistics and energy. UAE Dealmaking & Investment: ADNOC Distribution agreed to buy Shell’s South African fuel-station business for $1bn, while Abu Dhabi’s Private Department committed $1.13bn to MidOcean Energy in a new LNG partnership. Qatar Sustainability & Growth: Qatar Museums achieved carbon neutrality certification for four major sites, and Parsons won a three-year contract for Lusail City infrastructure delivery. Business & Tech in the Gulf: UAE and Saudi Arabia are leading on data streaming for AI, with major shares of firms already running agentic AI in production.