Hormuz Shipping Squeeze: Strait of Hormuz traffic fell to single digits per day over the weekend, with shiptracking showing far fewer transits than the 10-day norm as attacks and drone threats disrupt tanker and cargo flows; Brent pushed above $107 and the Saudi East-West pipeline also faced drone strikes, adding cost and delay to global shipping. U.S.-Iran Maritime Escalation: Iran released video claiming it destroyed a U.S. Saildrone Explorer near Hormuz and separately published footage of a seized U.S. undersea drone, underscoring rising risk for unmanned surveillance and commercial shipping in the chokepoint. Trade & Logistics Ripple: The U.S. lifted a 12-year Condition of Entry on Nigerian vessels after port security upgrades, a move expected to cut compliance costs and improve turnaround times for Nigeria-U.S. trade. Cross-Border Freight Security: U.S. Border Patrol rescued three people locked inside a freight rail car in Texas, the second such incident at the same rail siding in weeks, highlighting ongoing smuggling risks on rail corridors. Aviation & Defense Procurement: Taiwan began first flight tests of two MQ-9B “SkyGuardian” drones after U.S. delivery, while the U.S. approved a potential $140M Black Hawk sale to Argentina amid renewed Falklands tensions. Energy Costs Hit Transport: A new analysis warns U.S. airlines’ limited fuel hedging is leaving carriers exposed to sharp jet-fuel price spikes, with higher energy costs likely to pressure routes and capacity.