WS #12416
The US-Iran conflict continues to escalate, with new airstrikes hitting Abadan and the Darkhovin nuclear plant in Iran, and Iran claiming two ships were involved in an 'accident' in the Strait of Hormuz after ignoring warnings. Kuwait reports 90% of its water supply affected by regional tensions, and Iran warns no tankers can pass the Strait without permission. The Caspian Pipeline Consortium halted oil loading after drone attacks on tankers carrying Kazakh oil. Oil prices have surged nearly 5%, with Brent crude at $88.10. Chip stocks remain in a bear market, with Nvidia losing ETF weight to AMD. Netflix shares fell 8%+ after weak Q3 guidance. Apple briefly overtook Nvidia in market cap. China's state-owned firms announced share purchase plans to support markets. The UK's new PM Andy Burnham takes over. A tropical depression formed in the Gulf. The dominant narrative is ESCALATING on the Iran conflict, with oil supply disruption risks rising.
Topics
Key developments
- US airstrikes hit Abadan and Darkhovin nuclear plant in Iran
- Iran warns no tankers can pass Strait of Hormuz without permission; two ships in 'accident'
- Caspian Pipeline Consortium halts oil loading after drone attacks on tankers carrying Kazakh oil
- Oil prices surge nearly 5% as supply disruption fears mount
- Chip stocks in bear market; Nvidia loses ETF weight to AMD
- Netflix shares fall 8%+ after weak Q3 guidance
- Apple briefly overtakes Nvidia in market cap
- China state-owned firms announce share purchase plans to support markets