WS #6232
No material new developments in the last 30 minutes. The dominant narrative remains the escalating US-Iran conflict and oil price surge, with no counter-signals or de-escalation observed. The previous synthesis accurately captures the current state.
Key developments
- Trump rejects Iran's offer to reopen Strait of Hormuz, prepares for long-term blockade
- Brent crude surges above $119/barrel on prolonged blockade fears
- UAE announces withdrawal from OPEC, effective May 1
- Putin and Trump hold 1.5-hour call; Putin proposes Ukraine ceasefire during May Victory Day
- Kevin Warsh approved by Senate Banking Committee as next Fed Chair
- Phillips 66 surges after unexpected Q1 profit on higher refining margins
- Seagate Technology pops 12% on strong guidance
- GE HealthCare falls 12% on lowered full-year adjusted earnings forecast