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Story summary
- President Donald Trump said he would cancel an attack on Iran if a deal ends Iran’s nuclear threat and reopens the Strait of Hormuz.
- Iranian Foreign Minister Abbas Araqchi warned Iran would retaliate to any U.S. or Israeli aggression.
- On Aug 1 Kuwait destroyed Iranian drones and reported damage to a facility and Bubiyan Island.
- Shipping through the Strait of Hormuz has dropped since Feb 28.
- Brent crude rose 24 % in July.
