WS #12109
The US-Iran conflict has escalated dramatically overnight, with Iran claiming drone strikes on US Fifth Fleet HQ in Bahrain, targets in Kuwait, Jordan, and Al-Udeid Air Base in Qatar. The US has launched a new wave of strikes on Iranian coastal targets and resumed a naval blockade of Iranian ports. Shipping data shows only 10 vessels passed through the Strait of Hormuz on Monday, less than 10% of normal traffic. Oil prices are surging, with Polymarket contracts showing elevated probability of WTI hitting $95 in July. The ECB is monitoring energy costs closely. In corporate news, Citi announced a 12% dividend increase and $30B buyback. OpenAI's first consumer device is reportedly a screen-free smart speaker, with Apple having 'nothing like it' yet. The dominant theme is US-Iran conflict ESCALATING, with oil supply disruption risk now acute, countered by Trump's proposed trade deal and the Senate NDAA rejection (ongoing).
Topics
Key developments
- Iran claims drone strikes on US Fifth Fleet HQ in Bahrain, targets in Kuwait, Jordan, and Qatar's Al-Udeid Air Base
- US launches new wave of strikes on Iranian coastal targets and resumes naval blockade of Iranian ports
- Strait of Hormuz traffic plunges to <10% of normal; only 10 vessels passed Monday
- Citi to boost planned Q3 dividend by 12% and launches $30B share buyback
- OpenAI's first consumer device reportedly a mobile, screen-free smart speaker; Apple has 'nothing like it' yet