WS #12007

The US-Iran conflict continues to escalate with the US launching a third night of strikes on Iran, confirmed by multiple sources including CENTCOM, Al Jazeera, and social media reports of explosions in Bushehr, Bandar Abbas, Kish Island, and Qeshm Island. President Trump announced reinstatement of a naval blockade on Iran and a 20% fee on all commercial cargo transiting the Strait of Hormuz, estimated at $30 million per supertanker. This is bullish for energy stocks (XOM, CVX) and bearish for airlines and consumer stocks. Separately, the FDA approved Biogen's LEQEMBI IQLIK subcutaneous injection for Alzheimer's, a significant development for BIIB. Gold dropped below $4,000 as oil surge fuels rate-hike worries. A federal judge voided Trump's IRS settlement, and California sued to block the Warner Bros/Paramount merger. The dominant theme is the US-Iran conflict, which is ESCALATING.