News

On July 11, 2026, the IRGC Navy declared the Strait of Hormuz closed and struck the Cyprus-flagged container ship M/V GFS Galaxy, leaving one of eleven Indian crew members missing. The U.S. responded within hours with its third round of strikes against Iran in a week, targeting IRGC radar, missile, and drone facilities along Iran's southern coast. War-risk insurance premiums for Hormuz transits have risen from roughly 2% to 5% of hull value, Brent crude posted a 5% weekly gain, and Omani-mediated diplomacy remains the primary channel for any face-saving resolution.

The Paul Allen estate has agreed to sell the Seattle Seahawks to a group led by the Khosla family for $9.612 billion, a figure that exceeds the previous NFL record of $6.05 billion set by the 2023 Washington Commanders sale by nearly 59 percent. NFL owner approval is targeted for late August 2026, but the Khoslas must first divest Vinod Khosla's existing limited-partnership stake in the San Francisco 49ers to satisfy the league's cross-ownership prohibition. The stadium lease at Lumen Field expires in 2028, meaning the incoming ownership group will face immediate negotiations with the Washington State Public Stadium Authority regardless of how the transfer is structured.