WS #6494

The US-Iran confrontation in the Strait of Hormuz is ESCALATING further, with multiple new developments in the last 30 minutes. A South Korean vessel was targeted by Iran in the Strait, triggering missile alerts in Dubai and interceptor launches from the UAE. The UAE confirmed Iranian drones attacked a ship owned by its national oil company. US Central Command confirmed two US-flagged merchant vessels safely transited the Strait under 'Project Freedom,' while Iran's Revolutionary Guards warned of 'long and painful strikes' in response to any US attack. Oil prices initially spiked to $126/barrel before retreating to $110.50 (Brent, +2.14%) as markets digest the mixed signals. The Bank of England held rates at 3.75%, citing Iran conflict inflation risks. Japan conducted a yen-buying operation. US factory orders rebounded 1.5% vs 0.5% est. Amazon's new supply chain service is pressuring FedEx and UPS stocks. Micron Technology (MU) surged ~10% on AI demand for HBM4 memory. GameStop's $56B bid for eBay is driving GME lower and EBAY higher. Hezbollah drone strikes hit Israeli positions in Shomera, wounding 12 soldiers, marking the first such attack since the ceasefire. Israeli strikes killed 20 in Lebanon on Sunday, with 77 killed since Thursday. The EU vowed action if Trump adopts 25% car tariffs. Canada announced C$1.5B in support for firms hit by US metal tariffs. US inflation hit a three-year high due to gasoline price surge from Iran conflict.