WS #2055

The Strait of Hormuz crisis continues to escalate, with new attacks on Kuwait's Mina al-Ahmadi refinery (items 293900, 289301) confirming ongoing Iranian strikes on Gulf energy infrastructure, directly threatening oil supply and pushing prices higher. This is compounded by Iran's new fee structure for ships passing through the Strait (item 311474), creating additional commercial disruption. The IEA's repeated calls for emergency oil demand cuts through speed limits and remote work (items 398261, 388958, 376056, 376363, 376056, 343450, 318892, 314311) reflect deepening supply concerns, with multiple international sources corroborating this urgent advisory. However, counter-signals emerge as European nations, Japan, and Canada prepare a joint mission to secure the Strait (item 321946), potentially mitigating escalation fears. In corporate developments, Super Micro Computer shares dropped 20.3% premarket (item 282663) after US charges against three individuals tied to the company for smuggling AI chips to China (item 293899), adding bearish pressure to semiconductor and tech stocks. Alibaba's workforce plunged 34% in 2025 (item 361038), indicating continued restructuring in Chinese tech, though Hong Kong market closures show mixed sector performance (item 304220). AI infrastructure stocks like VRT, MRVL, AVGO, and PLTR remain resilient (item 350843) despite broader market stress, suggesting non-discretionary spending trends. Minor signals include the largest monthly outflow from GLD since 2013 (item 357245), pointing to shifting gold market dynamics amid the crisis.