Revised: OPEC has cut its oil demand forecast after the near closure of the Strait of Hormuz forced Persian Gulf producers to curb output and reroute exports, deepening uncertainty in global energy markets. Saudi Arabia led production declines, while crude prices climbed amid stalled U.S.-Iran talks. The disruption adds fresh pressure to fuel markets already rattled by geopolitical tensions and supply chain instability. Read more from The Wall Street Journal.
List of carriers expanded: Louisiana lawmakers approved legislation expanding who can carry handguns inside the state Capitol, adding six statewide elected officials—including the governor—and designated staff members to the list. The measure requires annual certification and limits where some weapons can be carried inside the building. The bill will become law unless Gov. Jeff Landry vetoes it, with the changes set to take effect Aug. 1. Read more from Louisiana Illuminator.
Squeeze could last months: Rising grocery prices are putting fresh pressure on American households as the economic effects of the Iran war begin hitting supermarket shelves. Tomatoes, beef, coffee and other staples are seeing some of the sharpest increases, driven by higher diesel costs, tariffs and ongoing agricultural disruptions. Economists warn the squeeze may continue for months, though likely without the severity of the post-Ukraine food shock. Read more from The Washington Post.
