[Saudi Crude Oil Exports Now Rely Only on the Suez Canal as a "Throat," Global Energy Supply Chain Approaching its Limits] 1. Since the outbreak of the Iran-Iraq War, Saudi Arabia has successfully bypassed the Strait of Hormuz, which is effectively blocked by Iran, by shifting its crude oil export focus to the port of Yanbu on the Red Sea coast, and transporting oil to Asian customers via the Bab el-Mandeb Strait. However, the Houthi rebels' recent continuous attacks on Saudi oil tankers in the Red Sea are rapidly diminishing the reliability of this alternative route. 2. Data from ship tracking agency Vortexa shows that at least four oil tankers fully loaded with Saudi crude oil this week made emergency changes before reaching the southern end of the Red Sea and the entrance to the Bab el-Mandeb Strait, heading north towards the Suez Canal; meanwhile, Saudi Arabia has begun increasing crude oil loading quotas at Egyptian Mediterranean ports. In the first three weeks of July, the volume of seaborne crude oil transported through the Suez Canal reached a two-and-a-half-year high, with the accompanying SUMED pipeline seeing a 50% increase in crude oil transport volume compared to the previous week. 3. The Suez Canal route also faces security challenges. Sources familiar with the matter revealed that senior officials of the Iranian Revolutionary Guard recently warned that if the United States intensifies its military strikes against Iran or plans a ground invasion, Iran will completely blockade the Bab el-Mandeb Strait and the Red Sea shipping lanes, and launch targeted attacks on passing merchant ships. This means that the world's two most important oil shipping routes—the Strait of Hormuz and the Bab el-Mandeb Strait—could be cut off simultaneously. 4. Saudi Arabia is being forced to divert its crude oil via longer and more expensive routes—through the Suez Canal or around the southern tip of Africa. This route not only significantly increases transportation time and costs, but the Suez Canal itself also faces capacity limitations. If this passage is also blocked, the global crude oil supply chain will face its most severe test in decades. 5. Despite mediation efforts by Saudi Arabia, Egypt, and other countries, Iran and its supported Houthi rebels have failed to persuade them to cease their actions. As the conflict continues to escalate, the security of the global energy market supply is becoming increasingly fragile.

The U.S. Geological Survey reported a 5.1-magnitude earthquake in the Tristan da Cunha region.

[Australian Prime Minister: Will Directly Negotiate New Tariffs with Trump, Calls Them "Unfounded"] 1. Australian Prime Minister Anthony Albanese recently stated in a media interview that he will directly negotiate with US President Trump regarding the new tariffs imposed by the US, explicitly stating that these tariffs are "unfounded." 2. Albanese stated that Australia has conveyed its concerns to the US through bilateral channels and will continue to raise the issue in consultations at all levels. He pointed out that these tariffs are "completely untenable" and reiterated that Australia has comprehensive modern anti-slavery laws. 3. Albanese further emphasized that the tariffs will ultimately be borne by consumers in the taxing country, which will drive up domestic prices in the US and damage trade relations between the US and Australia. He stated that the tariff issue will continue to be raised in consultations at all levels between Australia and the US.