In regional trade developments, Ladakh kicked off its season’s export of premium Halman apricots from Kargil to the UAE, executing a 5-tonne initial consignment via a MoU with Lulu Retail aimed at scaling exports to 1,000 tonnes to support over 30,000 farming families. In stark contrast, acute geopolitical turmoil in the Middle East has disrupted global supply routes, as US President Donald Trump initially proposed a $15 per barrel ($30 million per VLCC) guardian fee for ships navigating the Strait of Hormuz before shifting to demand massive Trade and Investment Deals from Gulf states alongside a total blockade on Iranian cargo. The escalating military exchanges between US and Iranian forces in the strait have pushed crude oil prices to four-week highs touching $87 a barrel, disrupting global energy routes and triggering intense anxiety across international shipping markets.