WS #12191

The US-Iran conflict escalates sharply with Iran claiming strikes on US bases and warning of wider attacks, while the US intensifies strikes including disabling an oil tanker near Kharg Island. Iran has told Houthis to close Bab el-Mandeb if US hits power network, and Dana Gas shut main production at Iraq's Khor Mor field due to security threats. This is corroborated by multiple sources (Al Jazeera, Guardian, Bloomberg, GDELT). The Strait of Hormuz blockade is being enforced with a 20% fee demand. Counter-signals: Iraq's Basra drone incident clarified as not a direct attack, and Iraqi crude loadings remain high. Separately, TSMC reported strong Q2 earnings (EPS $4.31 vs $3.77 est) and announced an additional $100B investment in Arizona, but stock fell on SK Hynix chaos and rotation. Google faces EU-mandated changes to open Android and Search to rivals, effective 2027. DeepSeek raised $7.4B, leading Asia startup funding to $42.8B in Q2. Earnings highlights: UnitedHealth +5.9% premarket on raised guidance, Abbott +2.8% on raised outlook, GE Aerospace beat but fell -4% on margin pressure, Prologis beat and raised guidance, JB Hunt beat and raised. The dominant narrative is geopolitical risk from Iran with oil supply implications, but the Iraq loading restart and clarification on Basra drone incident partially counter the bullish oil thesis. The narrative is ESCALATING.