WS #12314

The US-Iran conflict continues to escalate with a seventh consecutive night of US airstrikes on Iran, hitting bridges in Hormozgan province and a tower in Chabahar port, killing at least 38 people. Iran's IRGC claims to have destroyed Bahrain's main AI center with ballistic missiles and drones, and attacked a US UAV depot in Bahrain. Erbil International Airport in Iraq suspended flights due to Iranian attacks. Hedge funds piled into bullish Brent oil bets at the fastest pace in almost a decade, signaling sustained oil price elevation. US markets closed lower: SPY -1.0%, QQQ -1.5%, NVDA -2.2%, TSLA -2.6%. The VIX surged 12.19%. This escalation is likely to keep oil prices elevated and risk assets under pressure. Separately, Trump endorsed Lindsey Graham's sister Darline Graham for Senate, and the US and Mexico will meet for a third USMCA negotiating round on July 21. Xencor surged 17% on ESMO 2026 oral presentation news. DBV Technologies filed an ATM prospectus for up to $150M. IBM disclosed multiple critical vulnerabilities in Langflow OSS (CVSS 9.9).