WS #12447
The US-Iran conflict continues to escalate, with the US launching a ninth consecutive night of strikes on Iran, confirmed by multiple sources including The Guardian, Al Jazeera, and Reuters. Brent crude has broken above $90/barrel, reaching $91 (+~3%), and WTI hit $84.68 amid the Strait of Hormuz standoff. IRGC claims to have attacked two oil tankers in the Strait, and a ship fire was reported. A US service member was killed in Iraq during a controlled detonation of an Iranian drone. The narrative remains ESCALATING with no signs of de-escalation. Separately, Chinese traders are unwinding leveraged bets at the fastest pace since 2016, and KKR/AEW seek buyers for China property assets, signaling continued stress in Chinese markets. Taiwan Semiconductor (TSM) buildout is still accelerating, a positive for the semiconductor sector. The Taylor Farms cyclospora test was a false positive, removing a food safety overhang for related companies.
Topics
Key developments
- US launches ninth night of Iran strikes; Brent crude breaks $90/bbl
- IRGC claims attack on two oil tankers in Strait of Hormuz; ship fire reported
- US service member killed in Iraq during drone detonation
- Chinese traders unwind leveraged bets at fastest pace since 2016
- Taiwan Semiconductor buildout accelerating
- FDA confirms Taylor Farms cyclospora test was false positive