WS #11942

The US-Iran conflict continues to escalate with new military strikes and retaliatory missile attacks. The US launched a fresh round of strikes on Iran, killing one and injuring four, while Iran's IRGC claimed strikes on US bases in Kuwait, Jordan, and Bahrain, including direct hits on the US Navy 5th Fleet Headquarters in Bahrain. Jordan intercepted four Iranian missiles. Oil prices surged over 4%, with Brent crude above $79 and WTI near $74.50. The Strait of Hormuz remains contested, with Iran claiming closure and the US insisting it is open. This escalation casts doubt on the interim US-Iran agreement signed in June. Bitcoin held near $63,800, showing muted reaction compared to traditional markets. Separately, Ukraine confirmed strikes on 18 Russian vessels and multiple oil refineries, extending its reach to the Omsk refinery nearly 2,500 km from Ukraine. The Fontainebleau forest fire near Paris has burned 800 hectares, disrupting traffic and train lines, and forcing three nuclear power plants to shut down temporarily. TSMC plans to add three advanced packaging plants in Taiwan's Chiayi. SK Hynix fell 12% in Seoul after its Nasdaq debut profit-taking. The dominant theme is US-Iran military escalation, which is ESCALATING with no de-escalation signals in this window.