WS #8157

The dominant narrative in this window is the accelerating de-escalation of the U.S.-Iran crisis, with multiple sources reporting that a deal to reopen the Strait of Hormuz is in its final stages. This has triggered a sharp decline in oil prices: Brent crude fell below $100 for the first time in over a month to $98.33, and WTI dropped nearly 5% to $91.79. The CNBC Daily Open and multiple Bluesky posts corroborate the plunge, citing progress on the Strait of Hormuz reopening. Gold jumped as inflation concerns eased. The narrative is ESCALATING in terms of deal proximity, with Polymarket events showing active trading on ceasefire continuation and peace deal timelines. However, Trump's mixed messaging—calling talks 'constructive' while posting military strike images—introduces uncertainty. The Singapore economic outlook weakened due to the energy crunch, flagging macro risks despite a strong Q1 from AI. No new MAG7 contradictions emerged; the tech rally narrative remains intact. The Pakistan train bombing is a tragic but isolated geopolitical event with limited direct US market impact. The Saudi spending spree retrenchment story is a medium-term signal for energy and construction sectors but lacks immediate actionable catalysts.