WS #11993

The US-Iran conflict is ESCALATING sharply. Multiple sources confirm Trump has declared the US 'Guardian of the Strait of Hormuz' and will charge a 20% fee on all cargo transiting the strait. CENTCOM has released footage of strikes on an Iranian naval base and submarine. Houthis have launched ballistic missiles at Saudi Arabia's Abha airport and King Khalid airbase, and warned airlines against flying over Saudi airspace. The IEA projects oil demand will fall by 1 million bpd due to the Strait closure, while releasing 400 million barrels of strategic reserves as a counter-signal. Oil prices surged over 8% (WTI +8.85%, Brent +8.87%). The International Maritime Organization has rejected the 20% fee as having no legal basis. Fed Governor Waller said he would consider a rate hike if inflation persists, with markets now pricing a 41% chance of a July hike. A federal judge voided Trump's $1.8B IRS settlement, referring his lawyers for discipline. Apple sued OpenAI for stealing trade secrets. SK Hynix shares plunged 7.9% on Nasdaq debut, dragging down Micron (-4.5%), SanDisk (-5.1%), and Western Digital (-5.2%). 12 states sued to block the Paramount/WBD merger. Trump will address the nation Thursday at 9 PM ET.