WS #11953
The dominant theme remains the sharp escalation in US-Iran military conflict, with new reports of US sea drone strikes on Iranian air defenses and coastal radar, and explosions in Bandar Abbas and Qeshm Island. The UAE has tweaked offshore oil pricing to support non-Hormuz options, indicating a structural shift in oil logistics away from the Strait of Hormuz. This counters the full closure narrative but confirms significant disruption. Meta's $50B+ Louisiana data center expansion and TSMC's 68% YoY June revenue surge confirm robust AI infrastructure demand, providing a bullish counterweight to the geopolitical risk-off tone. The narrative is ESCALATING on the military front, but with a partial counter-signal from UAE pricing adjustments.
Topics
Key developments
- US uses sea drones against Iran for first time; CENTCOM confirms strikes on Iranian air defenses and coastal radar
- Explosions reported in Bandar Abbas and Qeshm Island, Iran
- Meta expands Louisiana AI data center to 5GW, costing over $50 billion
- TSMC June revenue surges 67.9% YoY, confirming AI chip demand boom
- Citigroup raises Apple price target to $365 from $315
- Bahrain says air defenses intercepted and destroyed several Iranian aerial attacks
- UAE tweaks offshore oil pricing to support non-Hormuz options