WS #1861

The data dump reveals escalating geopolitical tensions in the Middle East, with significant implications for energy markets and global stability. President Trump's statements suggest the Iran conflict may conclude soon, claiming Iranian leadership is gone and operations are ahead of schedule, which could dampen worst-case prolonged war scenarios. However, countervailing signals include Japan's Prime Minister Takaichi warning that the global economy is about to experience a huge hit due to Iran, and a joint statement from the UK, France, Germany, Italy, the Netherlands, and Japan expressing readiness to ensure safe passage through the Strait of Hormuz, indicating ongoing risks. Energy supply disruptions are corroborated by multiple sources: Bloomberg reports gas traders eyeing the start of a massive Exxon and QatarEnergy plant in the US as Iran war hits supply, and oilprice.com notes Asia is turning to US oil as war chokes Middle East supply. Additionally, Iran is reportedly setting up an 'approved' shipping corridor through Hormuz, with at least one tanker paying around $2M for transit, highlighting continued blockade pressures. In other sectors, UBS upgraded Micron Technology with a raised price target to $510, signaling bullish sentiment in semiconductors, while mortgage rates climbed to a three-month high, with the 30-year fixed rate at 6.22%, potentially impacting housing and related stocks.