Iran's Parliament Speaker Claims U.S.-Israeli Military Campaign Failed; Gulf Oil Exports Surge to 10M Barrels Daily on July 4

On July 4, Iran's Parliament Speaker Kalibaev claimed the U.S.-Israeli military campaign against Iran has failed, stating that all parties have concluded military action targeting Iran is unsuccessful and the U.S. should accept regional realities and lift sanctions. According to Reuters, Japanese oil buyers are conducting preliminary negotiations with Iran on crude oil purchases, while data showed Gulf oil exports surged over 3 million barrels per day in June, breaking the 10 million barrel daily mark, though still 40% below pre-war levels.

Meanwhile, according to AXIOS, Trump held a phone call with Israeli Prime Minister Netanyahu on Friday, with Netanyahu's office confirming both sides agreed to meet in the U.S. in the near term. Separately, Israeli forces struck approximately 10 Hezbollah facilities in southern Lebanon.