Hormuz Shock to Consumer Costs: CENTCOM said the U.S. carried out a third round of Iran strikes this week, hitting 300+ targets, while Iran announced closure of the Strait of Hormuz—keeping crude and shipping risk front and center for prices across the region. Oil Demand Turning Point: The IEA expects global oil demand to fall in 2026 for the first time since 2020, citing Hormuz disruptions and higher prices, with knock-on effects for fuel and everyday goods. Retail Supply Strain in Bahrain: Pet retailers in Bahrain report shortages after Hormuz disruption, pushing demand toward Saudi-made pet food and supplies and forcing customers to switch brands. Banking Expansion Watch: First Abu Dhabi Bank is moving closer to a South Africa licence after a decade-long trademark dispute ended, a sign of Gulf consumer-finance ambitions beyond the region. Travel Bargain Signal: Türkiye is flagged as Europe’s cheapest holiday destination, which could help tourism demand if fuel and inflation pressures ease. Tech Consumer Impact: Apple sued OpenAI over alleged trade-secret theft tied to consumer hardware plans, adding uncertainty for AI features in upcoming devices. Energy Infrastructure Routine: Iraq and Türkiye are nearing a one-year renewal of their 1973 crude pipeline deal, extending a key northern export route as Hormuz remains volatile.