WS #6704

The dominant theme remains the Iran-US conflict, with the narrative arc STABLE but with new developments that add complexity. The US is waiting on Iran to respond to its peace proposal, with Trump saying a deal is 'very possible' but threatening to resume bombing if not agreed. Iran is reviewing the proposal but calls it an 'American wish list'. A French aircraft carrier is heading towards Hormuz for a possible defensive mission, adding a European dimension. Meanwhile, two Russian drones crashed in Latvia near an oil storage facility, escalating NATO tensions. Oil prices fell to $101 on peace hopes, but the physical blockage persists with 1,600 vessels stalled. Maersk CEO warned of $500M/month extra costs. UK construction slump worsened. JD Sports warned Iran war could hit consumer spending. Shell profits surged on oil volatility. Tesla's China-made EV sales rose 36% YoY in April. Eli Lilly to invest $4.5B in Indiana manufacturing. Anthropic's pre-IPO valuation reportedly reached $1.2 trillion. EU weighs restricting use of US cloud platforms for sensitive data. China asks banks to pause new loans to US-sanctioned refiners. The narrative is STABLE but with multiple cross-currents: peace hopes vs. military escalation, oil price volatility, and sector-specific impacts.