WS #11925

The US-Iran conflict continues to escalate with heavy US airstrikes reported across southern Iran (Bushehr, Kangan, Hengam Islands, Sirik, Bandar Abbas, Jask, Chabahar) and Iranian retaliation including a drone strike on a Kuwaiti oil platform. The Strait of Hormuz remains contested: Iran claims closure, CENTCOM says it is open. Oil prices have risen more than 2% as supply through the Strait is reduced. US stock futures are slightly lower (S&P 500 -0.1%, Nasdaq 100 -0.3%). Separately, Senator Lindsey Graham's cause of death is confirmed as aortic dissection from arteriosclerotic cardiovascular disease. Senator Mitch McConnell released a statement saying he was hospitalized after a fall and developed mild pneumonia. The US-Iran escalation is the dominant market-moving theme, with direct implications for oil prices, energy stocks, and broader risk sentiment. The narrative is ESCALATING with new airstrikes and Iranian attacks on shipping.