WS #11941

The US-Iran conflict continues to escalate with new airstrikes and retaliatory missile strikes. Jordan intercepted four Iranian missiles, and Kuwait reported sirens. Oil prices surged over 4% with Brent crude up 3.3% to $78.50 a barrel. The MSCI Asia-Pacific Index fell to a one-month low, dragged down by SK Hynix (-10%) and Samsung (-8%) after SK Hynix's Nasdaq debut profit-taking. A potential counter-signal emerged: Iranian Deputy FM Gharibabadi announced conclusion of Doha talks on Iran-U.S. peace MoU implementation, setting up an emergency monitoring channel and discussing $6B frozen assets, suggesting diplomatic channels remain open despite military escalation. This could dampen the bearish oil/equity thesis if de-escalation gains traction. Separately, a coordinated arson attack on Greek ruling party officials' homes in Thessaloniki killed one and injured four, with counterterrorism investigating, adding to European political risk.