WS #11947
The US-Iran conflict over the Strait of Hormuz continues to escalate, with multiple sources reporting Iran's major counteroffensive against US bases in Kuwait, Jordan, and Bahrain, and Tehran reiterating the Strait of Hormuz remains closed. Only 6 ships transited the Strait yesterday, including a supertanker carrying 2M barrels of Iranian crude. Brent crude jumped 4.5% on the escalation. Bitcoin trades near $63,000 amid the turmoil. Separately, Ukraine launched a drone attack on Moscow killing 3, and struck Russian oil facilities and tankers near the Sea of Azov, deepening Russia's fuel shortage. Germany's coalition agreed on major pension, labor, and tax reforms, a significant domestic policy shift for Europe's largest economy. TSMC's Q2 revenue beat (up 36% YoY) is carried forward as an ongoing positive for AI/semiconductor tickers. The dominant theme is ESCALATING on the US-Iran front.
Topics
Key developments
- Iran launches major counteroffensive against US bases; Strait of Hormuz traffic collapses to 6 ships
- Ukraine drone attack on Moscow kills 3; strikes on Russian oil depot and tankers
- Germany coalition agrees on major pension, labor, and tax reforms
- TSMC Q2 revenue up 36% YoY, beats estimates on AI demand (ongoing — first surfaced 07:11)