🇺🇸🇮🇷⚡️ — Gulf stock markets open lower Tuesday amid energy supply fears tied to escalating US-Iran tensions around the Strait of Hormuz.

➡️ Dubai's benchmark index fell more than 1%, though Emirates NBD bucked the trend, rising 1.2%.

➡️ Abu Dhabi's main index slipped 0.3%.

➡️ Saudi Arabia's benchmark index dropped 0.2%, dragged by a 0.5% decline in Al Rajhi Bank shares.

➡️ The declines follow Washington's reimposition of a naval blockade on Iran, with ongoing exchanges around the Strait of Hormuz stoking fears of global energy supply disruptions.

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🇺🇸❌🇮🇷 — 2x US projectile strikes hit Abadan and Mahshahr, Governor of Khuzestan reports.

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🇺🇸❌🇮🇷 — Imam Khomeini Port has been struck in a US attack, ISNA reports.

🇺🇸🇮🇷⚡️ — The US may face critical munitions shortages as the Iran war depletes key stockpiles, a defense analyst warns, CNN reports.

➡️ Retired Marine Corps colonel and CSIS analyst Mark Cancian estimates the US has expended between a third and a half of its key munitions stockpile.

➡️ Over 1,000 Patriot missiles have been used in the current conflict, with Gulf allies also drawing heavily on supplies and Ukraine seeking additional deliveries.

➡️ Only 600 Patriot systems are produced annually, with new orders facing a four-to-five year backlog due to demand.

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🇮🇷🇺🇸⚡️ — Iran exported over 80 million barrels of crude oil and petroleum products worth an estimated $6 billion in the 26 days following the signing of the Islamabad MoU between Iran and the US, Washington Examiner reports.

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🇪🇺🇺🇸🇮🇷✈️ — EASA has directed airlines to avoid airspace over Bahrain, Kuwait, Qatar, the UAE, and part of the Gulf of Oman amid elevated conflict risks in the region.

➡️ The advisory applies to all altitudes and flight levels, and is valid until July 29 unless reviewed earlier.

➡️ EASA cited "recurrent and significant violations" of the US-Iran temporary ceasefire as creating a "high level of risk across the Gulf region."

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🇺🇸🇮🇷⚡️ — NEW: Reuters Poll finds most Americans expect the US-Iran war to be prolonged.

➡️ 79% of respondents expect US attacks on Iran to continue "for an extended period of time," up from 65% in late March.

➡️ Just 18% believe the conflict will "end pretty quickly in a matter of weeks."

➡️ 37% of respondents approve of US strikes on Iran, which resumed on 26 June.

➡️ The Reuters/Ipsos poll surveyed 1,019 US adults over three days, completing Sunday, with a margin of error of ±4 points.

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