WS #11929

The US-Iran conflict around the Strait of Hormuz continues to escalate, with multiple sources (Guardian, BBC, ABC, GDELT, Bluesky) corroborating fresh US strikes on Iran and Iranian retaliatory attacks on Gulf states. Iran claims the Strait is closed, while the US insists it remains open. Oil prices are surging: Brent +3.5% to $78.67, WTI +3.4% to $73.87. 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, Apple sued OpenAI for trade secret theft, which could impact the AI hardware race. The Lindsey Graham death is a political story with limited direct market impact. The US-Iran narrative is ESCALATING.