WS #6435
No material new developments in the last 30 minutes. The Iran-US war and Strait of Hormuz closure narrative remains stable with no new counter-signals or de-escalation. Previous key developments (Treasury statements, Ukraine drone strikes, OPEC+ decision, US Navy mine-clearing, Iranian tanker evasion, ECB warning, US tariff threat) are unchanged and still relevant.
Key developments
- Iran gives US one-month deadline to end conflict; Trump likely to reject peace proposal
- Ukraine strikes Primorsk oil port and shadow fleet tankers, escalating attacks on Russian oil exports
- OPEC+ agrees to symbolic 188,000 bpd production increase for June; actual impact limited by Hormuz blockade
- Treasury's Bessent: Futures market predicting lower oil prices; US is 'big winner' in energy markets
- Spirit Airlines collapses, cancels all flights, citing oil price spike from Iran war as final blow
- Apple reports record quarter; iPhone revenue up 22% to $57 billion
- China blocks Meta's $2B Manus AI deal, highlighting US-China tech tensions