WS #7040

The dominant narrative remains the US-Iran escalation, with no material new developments in the last 30 minutes. The previous synthesis already captured the key signals: Trump's ceasefire comments, Strait of Hormuz risk, and the MAG7 carve-out. No counter-signals or de-escalation have emerged in this window. The narrative is STABLE—no escalation or de-escalation beyond what was previously reported.