The World in Brief from The Economist

Iran and Oman agreed to a proposed new shipping route through the Strait of Hormuz. Also, Abdul El-Sayed narrowly beat Haley Stevens in America’s Democratic Senate primary in Michigan.

Iran and Oman agreed to a proposed new shipping route through the Strait of Hormuz, according to Iranian state media.

Iran and Oman agreed to a proposed new shipping route through the Strait of Hormuz, according to Iranian state media; Abdul El-Sayed narrowly beat Haley Stevens in America’s Democratic Senate primary in Michigan

SpaceX reported better-than-expected revenue of $7.8bn in the second quarter, in its first earnings report since its IPO in June. Also, oil prices fell to a three-week low as traders hoped for an imminent deal to reopen the Strait of Hormuz.

In its first earnings report since going public in June SpaceX reported quarterly revenues of $7.8bn, up 92% year on year and ahead of analysts’ expectations.

Oil prices fell after Qatar said a draft agreement between America and Iran to reopen the Strait of Hormuz had been “circulated” and that negotiations were in “very progressive stages”; The European Union’s interior ministers held emergency talks about border security

EU interior ministers will hold emergency talks on Tuesday about border security. Also, Palantir raised its annual revenue forecast to around $8.15bn after reporting “staggering” second-quarter growth.

Donald Trump called Iran “unbelievably duplicitous” for denying that it is negotiating with America.