US-Iran War & Oil Markets: Trump again predicted the Iran conflict will end right after the November midterms, while oil prices stayed pinned near $100+ as attacks on shipping and Hormuz risks kept pressure on fuel costs and inflation. US Military Assessment: A New York Times report says Vice President JD Vance sought “unvarnished” commander views on Iran war aims, tactics, and depleted Patriot stocks, suggesting private concerns differ from the public line. Hormuz Flashpoints: Iran’s IRGC claimed it struck a US sail-drone near the Strait of Hormuz, as both sides trade claims of unmanned-asset losses. Nuclear File: The IAEA reported new activity at Iran’s Pickaxe Mountain, while the US, France, Germany and Britain accused Tehran of blocking inspections and urged urgent action. Israel-Hezbollah Lebanon: Israel said it completed demolition of Hezbollah’s Ali al-Taher tunnel network and consolidated a “kilometres-deep” buffer zone in southern Lebanon, raising fears for any de-escalation. Yemen/Red Sea Front: Iran-backed Houthis’ push toward key Red Sea chokepoints continued to worry shipping watchers, with Pakistan warning Iran to rein in Houthi attacks on Saudi oil facilities. Diplomacy & Sanctions: Russia and China opposed UN moves to revive Iran sanctions oversight, arguing against snapback and pushing for a negotiated path.