WS #7928

Oil prices resumed their rally as Iran reportedly insists on keeping enriched uranium within the country, contradicting US signals of an imminent peace deal. Brent crude gained 1.9% to $104.52/bbl, WTI +1.5% to $97.81. The IEA warned oil markets could enter a 'red zone' as global stocks dwindle. Separately, China's national team is set to cut ETF stakes by 90% in the first half, a significant withdrawal of state support from Chinese equities. The US House Republicans postponed an Iran war powers vote until June, and the US Senate pushed back against Trump's $1.8bn 'anti-weaponisation' fund. The Alberta separation referendum narrative is escalating with multiple sources reporting Premier Smith adding a separation question to the October ballot. SpaceX Starship Flight 12 is rescheduled for Friday May 22 with a 90-minute window opening at 5:30 PM CT. The dominant theme is the Iran oil supply disruption, which is ESCALATING as Iran's stance hardens.