WS #7090

The dominant theme remains the Iran crisis, which is ESCALATING. Multiple sources (jetstream.bsky, Benzinga, FT) report that Trump is frustrated with Iran negotiations and open to resuming major combat operations, while the US administration debates military options amid stalled nuclear talks. The UAE secretly carried out military strikes on Iran's Lavan Island oil refinery, per multiple reports, adding a new dimension to the conflict. Oil has zoomed past $105 on fresh Iran ceasefire doubts, and GasBuddy analyst says Americans have paid $28 billion extra due to the 'Iran war gas premium.' Hedge funds are betting on biofuels (corn, soybeans) to profit from the oil price shock, per FT. Separately, Michael Burry warned the Nasdaq 100 is in dot-com bubble territory, urging profit-taking, which could weigh on tech. Bitcoin briefly hit $82,000 but held above $81,000, with crypto majors largely holding gains. The Clarity Act crypto market structure bill was unveiled by the Senate Banking Committee, a positive for crypto. Nvidia CEO Jensen Huang will not attend the Trump-Xi meeting, a minor negative for NVDA. MU is down 5.33% overnight on Robinhood with no clear catalyst, worth monitoring.