Oil prices climbed to six-week highs amid escalating military exchanges between the United States and Iran in the Strait of Hormuz, according to Al Jazeera. The strikes have disrupted maritime traffic through the waterway, a critical chokepoint for global oil shipments. The reported surge in prices reflects market concerns over potential supply interruptions, as a significant share of the world's crude oil passes through the strait. The situation remains fluid as tensions between Washington and Tehran intensify.

Oil prices fell sharply on Thursday, reaching their lowest levels since the onset of the US-Iran conflict, following an interim agreement between the United States and Iran that alleviated concerns over global crude supply. According to Reuters, Brent crude futures decreased by $1.53.

According to Tanzania’s Daily News, what President Donald Trump reportedly called a brief “excursion” after US and Israeli strikes on Iran on February 28 has instead become a prolonged conflict without clear resolution. The paper says the war is affecting global oil supplies and, beyond the immediate fighting, signals a broader shift away from a US-centred order toward a more multipolar global economy.

Sun International has released its results for the six months ending June, reporting revenue 7.4% higher and adjusted headline earnings up 6.5%, with its Sunbet operation highlighted as a standout performer. Chief executive Ulrik Bengtsson discussed the results, according to Moneyweb. The figures point to growth across the South African hotel and gaming group during the period.

According to The South African Biz, the South African Purchasing Managers' Index (PMI) decreased in June, with a second quarter average of 50.2, which is an improvement over the first quarter average of 48.3.

South African power utility Eskom faces scrutiny over the sustainability of its profitability as municipal debt owed to it climbs to nearly R120 billion while electricity sales volumes decline by 6.2%. According to The Citizen Business, the figures raise questions about whether the utility's financial gains are being achieved at the expense of struggling municipalities and consumers, amid ongoing concerns about affordability and declining demand across the country.