WS #7627

The dominant theme remains the escalation of US-Iran tensions, with the Strait of Hormuz blockade tightening. A Bloomberg report confirms Kharg Island has no tankers loading, indicating the blockade is biting. This is corroborated by multiple sources: Ryanair CEO O'Leary warns of European airline casualties (specifically Wizz Air and Air Baltic) if the Iran war continues and Hormuz remains restricted, and Indian oil refiners are structurally preparing for disruptions as US sanctions waivers on Russian crude expire. Oil prices remain elevated, with Brent at $107.9. However, a potential counter-signal emerges: Iranian media reports that the US has proposed a sanctions waiver, which caused oil to slip. This development could de-escalate the crisis if confirmed. Separately, the US Treasury announced a $275M settlement with Adani Enterprises, a notable development for the Indian conglomerate. In company-specific news, Strategy (MSTR) bought $2.01B in Bitcoin, now holding 843,738 BTC, reinforcing its aggressive accumulation thesis. Regeneron (REGN) dropped after a skin cancer treatment failed a late-stage trial. Alphabet (GOOGL) reached $400 for the first time, a milestone for the MAG7 stock. The US-Iran narrative is ESCALATING with the Kharg Island blockade confirmation, but the proposed sanctions waiver could be a DE-ESCALATORY signal if confirmed.