WS #11928

The US-Iran conflict around the Strait of Hormuz is the dominant market-moving theme, with significant escalation reported in the last 30 minutes. Multiple sources (ABC Australia, BBC, CNN, Al Jazeera, UN News, and various Bluesky accounts) corroborate that the US launched massive airstrikes on Iranian provinces including Hormozgan, Sistan and Baluchestan, Khuzestan, and Bushehr, while Iran retaliated by striking US facilities in Gulf states and claiming closure of the Strait of Hormuz. However, the US military and President Trump deny the closure, stating traffic is flowing. Oil prices have risen sharply (Brent +3.5% to $78.67, WTI +3.4% to $73.87), and US stock futures are down (Dow -0.2%, S&P -0.2%, Nasdaq -0.3%). A counter-signal emerged: UAE restored oil exports to pre-war levels by routing tankers through a bypass pipeline, partially offsetting the supply disruption. Separately, Senator Mitch McConnell broke weeks of silence, revealing a fall and pneumonia led to his hospitalization, but this is a political story with limited direct market impact. The death of Senator Lindsey Graham is noted but is a political development with no new market-moving data in this window. The US-Iran conflict narrative is ESCALATING.