In a virtually-unheard of setup, Thursday features a legitimate severe weather/tornado risk in Dubai, the UAE, northern Oman, Bahrain and Qatar. Serious flooding – with up to a year's worth of rain – is expected as well.
NEW - IEA chief says current oil supply losses due to Hormuz Strait closure exceed the combined impact of 1973 and 1979 oil crises, gas losses are nearly double that from Russia/Ukraine war and other commodities, like fertilizer are also impacted, "The situation is very severe."
NYT: Trump has postponed his threatened strikes on Iranian power plants by 5 days, claiming the US and Iran are in "very strong talks" led by Jared Kushner and Steve Witkoff.
Iran's foreign ministry rejected the framing entirely, calling Trump's announcement an effort "to reduce energy prices and to buy time for implementing his military plans."