Czech government approves CEZ spin-off plan as first step toward state takeover. The move initiates a restructuring process for the energy company.

DEVELOPING: 34 ships diverted from the Strait of Hormuz, according to Pete Hegseth. The reported maritime traffic disruption follows ongoing regional tensions in the Middle East.

Pete Hegseth reports that 34 ships have been diverted from the Strait of Hormuz.

BREAKING: Gulf crude production drops 14.5 million barrels per day, a 57% decline from pre-war levels, according to Goldman Sachs. Analysts warn that output recovery may take months even after the Strait of Hormuz reopens.

Goldman Sachs reports that Gulf crude production has fallen by 14.5 million barrels per day, a 57% decline from pre-war levels, with recovery expected to take months even after the Strait of Hormuz reopens.

Canada approves a $4 billion expansion of the Enbridge pipeline system. The project aims to increase natural gas capacity across the network.

The Canadian government has approved a $4 billion expansion project for the Enbridge pipeline system.

DEVELOPING: Iranian lawmakers are drafting a new legal framework for the Strait of Hormuz, according to Foad Izadi. The proposal suggests that non-UNCLOS members may lawfully charge fees for passage through the strategic waterway. #Hormuz #Iran

Foad Izadi stated that Iranian lawmakers are drafting a new legal framework for the Strait of Hormuz, asserting that non-UNCLOS members can lawfully charge fees for passage through strategic straits.