WS #6489

The US-Iran confrontation in the Strait of Hormuz is ESCALATING rapidly. Multiple sources (Fars News, Tasnim, Reuters, Axios) report that Iran fired missiles at a US Navy vessel near Jask after it ignored warnings, though CENTCOM denies any ship was hit. Iran has expanded its 'zone of control' to Fujairah, threatening alternative oil export routes, and warned it will not allow US forces to pass through the Strait. Trump's 'Project Freedom' to guide trapped ships began today, but the market is skeptical. Oil prices surged ~3% on the news, with Brent above $112 and WTI near $105. The UAE condemned the Iranian attack on an ADNOC tanker and confirmed its exit from OPEC and OAPEC, unlocking a $55B oil investment push. OPEC+ agreed a symbolic 188k bpd hike for June, but this is unlikely to be realized due to Persian Gulf disruptions. The situation is at a critical inflection point with direct confrontation possible. Separately, Cerebras Systems filed for a $3.5B IPO at a $26.6B valuation, a major AI chip event. GameStop's $55.5B bid for eBay at $125/share is a major M&A development, with CEO Ryan Cohen on CNBC discussing the offer. Norwegian Cruise Line reported Q1 EPS beat but lowered FY guidance due to Middle East disruption, a negative for the cruise sector. Tesla registrations in Norway fell 61% YoY in April, a bearish signal for TSLA. The ECB warned that a prolonged Middle East conflict could push the Eurozone into recession, reinforcing the stagflationary narrative. The US announced a 25% tariff on EU auto imports, hitting German automakers. The US is withdrawing 5,000 troops from Germany, escalating transatlantic tensions. Coinbase integrated DFlow for Solana trading, improving trade success rates. The Indian rupee sank to a record closing low of 95.09 against the USD.