WS #8208

The dominant signal in this window is the sharp decline in oil prices, with WTI falling 6.99% to $89.85 and Brent dropping 7.21% to $96.07, driven by progress in US-Iran peace talks. Multiple sources confirm a 60-day ceasefire extension, Strait of Hormuz reopening, and a supertanker crossing the blockade. This strongly counters the previous bullish oil thesis. Separately, Israel-Hezbollah conflict is escalating, with Netanyahu ordering intensified strikes and Israeli aircraft hitting targets in Lebanon. The EU plans to fine Google a high triple-digit million euro sum, a negative for GOOGL. Qualcomm is seen winning 3nm GAA tile NPUs, a positive for QCOM. Mexico agreed to host Iran's World Cup team after US refusal, indicating diplomatic de-escalation. Iran's president ordered restoration of full internet access. The narrative arc is mixed: oil de-escalation (US-Iran) is ESCALATING in impact, while Israel-Lebanon conflict is also ESCALATING but oil price action dominates near-term market implications.