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Iran has revealed the price it wants to reopen the Strait of Hormuz, a new defense pact is reshaping security across the Middle East and South Asia, and a fast-moving wildfire has emptied two Canadian towns in less than a day. Plus, the market stories, scientific breakthroughs, and weekend headlines worth knowing.

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A missile struck an ADNOC vessel crossing the strait on Saturday, and Iran promptly listed its terms. Tehran wants the naval blockade lifted, sanctions dropped, forces withdrawn, war reparations paid and frozen assets released.

Oman still calls the talks positive, and Iran's foreign minister says they have reached their final stages. Brent settled at $83.55 as traffic through Hormuz fell 33% in a day, with the 60-day deadline a week out.

Three governments signed the Mecca Joint Defense Agreement on Friday, treating an attack on one as an attack on all. Turkey's foreign minister Hakan Fidan told Anadolu the pact does not target any third country.

Fidan's denial arrived in the same week Iran's standoff with Washington hardened considerably. Mohammed bin Salman, Recep Tayyip Erdogan and Shehbaz Sharif now share a defense obligation spanning the Gulf and South Asia.

The Bald Range fire was first reported Friday evening and forced more than 20,000 evacuations by Saturday. Summerland's entire population of 12,000 left, along with roughly 8,000 people in and around Peachland.

By Saturday afternoon the blaze had doubled to 95 square kilometres and remained out of control. Power failed across Summerland early Saturday, and officials called it among the fastest-growing fires the Okanagan has seen.

A car bomb detonated at a Pan-American Highway toll plaza, injuring two security guards lightly. Colombia's army blamed two FARC dissident groups, one day after Abelardo de la Espriella took office.

Spain has reinstated border controls on arrivals from Italy as a migration dispute strains relations between the two governments. Renewed internal checks matter because Europe’s border-free travel system depends on member states keeping restrictions temporary and exceptional.

Oleksiy Yukov, who spent two decades recovering the bodies of soldiers on both sides of the front, was killed after stepping on a landmine during a recovery mission. His work returning Russian remains to their families made him one of the more remarkable figures of the war.

Some of the president's most vocal supporters are pushing for visible raids targeting Haitians who lost temporary status after a Supreme Court decision on the TPS program. Officials have so far declined to describe when or where such enforcement will begin.

The Trump administration told grantees that federal funds cannot be used to distribute test strips that let users check street drugs for dangerous adulterants. Addiction and harm-reduction groups warned the change could push overdose deaths higher.

Ohio Republican Rep. Max Miller is refusing to step aside as a filing deadline approaches, following accusations from his ex-wife that he held a gun to her head and fractured their young daughter's collarbone. Miller has denied the allegations.

A landmark U.S. digital-assets bill has stalled in the Senate despite heavy industry spending to advance federal rules. Delays leave crypto companies facing continued uncertainty over how Washington will divide regulatory authority and set nationwide standards.

The S&P 500 climbed to fresh records this week on a record-breaking stretch of options activity, with the VIX sitting near its 2026 low. Traders are betting the calm holds through the Fed's next move.

Collateralized loan obligations are gaining traction as the next big product push for the ETF industry. Persistent uncertainty over interest rates is drawing investors to floating-rate credit exposure.

New findings from a cave in southern Türkiye suggest Neanderthals and modern humans may have swapped ideas and tools, not just genes and territory. The discovery pushes back on the long-standing view of the two groups as culturally separate.

Researchers identified a previously unknown CD64-dependent pathway that T cells use to attack acute myeloid leukemia, even when the standard recognition system is disabled. The finding could open a new front in immunotherapy for one of the deadliest blood cancers.

A rare tidal disruption event exposed a massive wandering black hole about 30,000 light-years from the center of its host galaxy. Astronomers spotted it only because it tore apart a passing star.

Drew Brees, Larry Fitzgerald and Luke Kuechly were among the players inducted into Canton at Saturday's Pro Football Hall of Fame ceremony. It's a stacked class headlined by three of the most complete players of their era.

Jorge Messi, longtime agent and father of Lionel Messi, died in Argentina at 68 after health issues over the summer. He negotiated nearly every major contract of his son's career, from Barcelona to Inter Miami.

Aces star A'ja Wilson hit her 30th birthday with four MVPs and three WNBA titles already on the shelf. The résumé has fans openly debating whether the argument is over.

The inaugural LA Jazz Fest, headlined by John Legend, Janelle Monáe, Parliament/Funkadelic and Raphael Saadiq, was canceled at the last minute with the beach-side opening days away. Online commenters immediately drew Fyre Festival comparisons.

Andrew Lloyd Webber said he is gutted that the Broadway production of "Cats: The Jellicle Ball" is closing tonight at the Broadhurst Theatre, five months earlier than planned. In an Instagram post, he expressed hope that Broadway would "come to its senses."

MacKenzie Scott posted four manuscript pages on a newly launched Substack, saying she will release her novel serially throughout August. It's the most public turn yet for the billionaire philanthropist, who has largely avoided the spotlight.

What it is: A rundown of Saturday's marquee matchups across MLB, with the SportsLine model and CBS Sports experts weighing in on best bets, props and totals. It's the kind of afternoon that gives sportsbooks indigestion. Playoff races, pitching duels, and weather-driven totals combine to make nearly every marquee game meaningful for fans, bettors, and postseason hopefuls alike this weekend nationwide.

The detail: The Red Sox are chasing a ninth straight win, one of the longer streaks in the majors this summer, and the model likes the run line despite a shrinking price. The Braves-Yankees clash in the Bronx headlines the national slate, with pitching matchups and heavy summer humidity pushing the total in one clear direction on sharp early tickets. Expect managers to lean aggressively on high-leverage relievers with postseason-style urgency despite the calendar still reading August, especially in tightly contested wildcard races everywhere now.

Why it matters: Streaks like Boston's tend to reset the AL Wild Card math in a hurry, and a strong August from Atlanta would jam an already crowded NL playoff picture. For bettors, mid-August is when regression starts biting inflated win streaks and juiced totals — timing the fade is the whole game. Recent performance often outweighs season-long averages during playoff chases, creating opportunities for disciplined bettors willing to challenge public momentum narratives before prices fully adjust downward.

What to watch: Whether Boston's bullpen holds up through a stretch of day games, and whether the Yankees can slow an Atlanta lineup that has been quietly one of the hottest in baseball since the All-Star break. The lines will move fast if either starter gets scratched. Late lineup changes, weather updates, and bullpen availability could quickly reshape both betting markets and managerial decisions before first pitch arrives amid heightened uncertainty today.

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—The Five Minute Daily Team