WS #6815

The dominant narrative remains the Strait of Hormuz escalation, with a new development: Saudi Arabia refused the US use of its bases and airspace for 'Project Freedom', a plan to escort oil tankers through the strait. This forced Trump to shelve the plan, indicating a lack of de-escalation and continued risk to oil transit. The UK is seeking alternative jet fuel sources from Nigeria and West Africa to mitigate the crisis. Separately, India's BJP won West Bengal elections for the first time, a significant political shift that may impact Indian markets and foreign investment sentiment. No MAG7-specific contradictory signals emerged in this window. The earnings calendar data is routine and contains no actionable surprises for major tickers.