Kuwait's military said attacks in Kuwait damaged three land border outposts in the north and an offshore drilling platform operated by Kuwait National Petroleum Company, and injured one worker. According to Jin10, a spokesperson for Kuwait's Ministry of Defense issued a statement on the evening of the 12th local time describing the incidents. The statement said some facilities at the three border outposts were damaged. It also said an offshore drilling platform belonging to Kuwait National Petroleum Company was hit by a drone attack, leaving one worker injured and causing damage to facilities. The spokesperson said the injured worker was receiving necessary medical treatment. Kuwait's military did not mention any situation involving U.S. military bases or facilities. Also on the 12th local time, Iran's military public relations department said in a statement that earlier that day it deployed attack drones to strike a U.S. Patriot air defense system, an ammunition depot, and a radar station located in Kuwait.

A shipping lane on Iran’s side remained open with some vessels still passing through, but overall maritime traffic was very quiet. According to Jin10, independent investment research platform HFI Research said the route still had some ship movements, though broader shipping activity was subdued.

The impact of artificial intelligence on inflation is difficult to predict and may lead to greater price swings, European Central Bank Governing Council member Emmanuel Moulin said, according to Bloomberg.

Local officials said Qeshm Island in Iran was hit by a missile attack on Sunday afternoon local time. According to Jin10, Iran’s IRNA news agency cited Qeshm Island official Hossein Amir Teymouri as saying that the enemy fired 10 to 11 missiles at the island. He said all targets struck were military facilities and that the attack caused no casualties.

Qatar said it would pursue legal accountability for Iran’s attacks, after reports said multiple countries were targeted. According to Jin10, Al Jazeera reported that Iran attacked not only Qatar but also Oman, Bahrain, Kuwait, Jordan, and the United Arab Emirates. The report said Iran claimed it struck U.S. military targets in all of those countries, but the governments of those countries had not officially confirmed the claim. Qatar’s Ministry of Foreign Affairs issued a statement calling the attack on Qatar a blatant violation of Qatar’s sovereignty and a breach of international law. The statement said Qatar believed Iran should bear legal responsibility for the act of aggression and for all consequences resulting from it. Earlier, Oman summoned Iran’s ambassador to lodge a protest over the attack.

U.S. spot XRP ETFs recorded about $7.2 million in net outflows in the week ended July 10, according to SoSoValue. According to NS3.AI, CoinGlass data showed global XRP futures open interest fell from nearly $3 billion in June to about $2.3 billion by mid-July. Separately, Evernorth said about $4 billion of tokenized real-world assets linked to the XRP Ledger now span more than 500 products.

Oil markets are largely accepting US assurances that the Strait of Hormuz remains open, with expanding Western Hemisphere supply and alternative export routes limiting the long-term impact of Gulf disruptions on crude prices, Bloomberg Intelligence senior commodities strategist Mike McGlone said, according to Bloomberg. McGlone said gasoline and diesel prices remain elevated because refining margins have widened, but he expects crude oil prices to trend lower over time as global supply grows and demand softens.

Chief of Naval Operations Adm. Daryl Caudle said NATO’s naval alliances remain strong as the US shifts more responsibility to allies while focusing on capabilities only the US Navy can provide, according to Bloomberg. Caudle said the Navy is accelerating autonomous systems, preparing for growing competition in the Arctic, and protecting global sea lanes as priorities for US national security.

Several explosions were heard in coastal areas east of Bandar Abbas and along the coast of Qeshm Island in Iran. According to Jin10, Iranian media outlet Fars News reported that the cause of the explosions was not yet clear.

Walt Disney Co.’s Moana debuted to $43 million in ticket sales in the US and Canada this weekend, a disappointing haul for a franchise that has otherwise delivered strong profits for the company’s film studio and consumer products division, according to Bloomberg.

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