WS #6495

The US-Iran confrontation in the Strait of Hormuz remains the dominant market theme, with the situation ESCALATING further. Multiple sources confirm Iran attacked an ADNOC tanker with drones, and Iran's Revolutionary Guards claim no commercial vessels have crossed the strait in hours, contradicting US assertions. Oil prices spiked to $126.40/barrel intraday before settling near $111 (Brent +2.54%), as markets digest conflicting reports. The US Energy Department set a 2 PM ET deadline for SPR supply requests, a counter-signal to ease supply fears. Separately, Spirit Airlines announced liquidation, sending shockwaves through the airline sector. Amazon's logistics move is pressuring FDX and UPS. Bitcoin briefly reclaimed $80K before retreating to ~$79,300. The UK raised its terror threat level to 'severe'. The EU is considering 25% auto tariffs from Trump, adding trade war risks. The IEA report suggests methane leak repairs could double lost supply from Hormuz, a potential medium-term offset. The narrative arc is ESCALATING on Iran, with oil price volatility and conflicting claims keeping markets on edge.