WS #11681

The US-Iran ceasefire has collapsed, with President Trump declaring it 'over' and the US launching new waves of strikes on Iran. Multiple sources (BBC, Al Jazeera, AP, WSJ, NBC, Bloomberg) corroborate that CENTCOM forces are conducting additional strikes to degrade Iran's ability to threaten navigation in the Strait of Hormuz. Iran's Nour News reports that Iranian armed forces are preparing a 'massive' attack on US military bases in the region. Oil prices surged over 7% (WTI +5.75%, Brent +6.49%, Heating Oil +12.43%) as tanker traffic through Hormuz has effectively stopped. The Dow fell 1.1% on the oil surge and hawkish Fed expectations, while the Nasdaq gained 0.2% driven by NVDA (+3.6%). The situation is ESCALATING sharply from the previous stable ceasefire narrative. No counter-signals or de-escalation developments were detected in this window. The Citibank note on potential Brent averaging $70 in Q4 2026 if a deal is reached provides a long-term anchor but is not actionable in the near term given the current escalation. Levi Strauss reported a beat but shares fell 5%+ after-hours on conservative outlook. Honeywell issued FY2026 guidance. MDA Space announced a $712M bought deal offering for an acquisition, sending shares lower after-hours.