Chevron is exploring options to bypass the Strait of Hormuz, a critical oil transit route. The company will join investors in examining a pipeline that would link Iraq's oil fields to the Syrian coast. This move comes as Middle East oil producers seek alternatives to the strait, through which approximately 20% of global oil passed before the recent conflict. Gulf nations are investing heavily in new pipelines, rail, and storage to circumvent the strait, a significant long-term consequence of the war.

Meanwhile, Donald Trump's speech is anticipated to reiterate his claims of election interference in the 2020 election, despite U.S. intelligence finding no evidence of foreign compromise. He advocates for election reform, facing some opposition. Separately, Netflix reported increased second-quarter revenue and income, partly due to price hikes and advertising growth. However, the streamer's stock dropped over 8% after forecasting its smallest revenue growth since late 2023, adding to a 40% decline over the past year.