WS #8634

The data window shows no material new developments beyond the previously established themes. Ukrainian drone strikes on Russian oil infrastructure continue, with a new attack on the Saratov refinery confirmed by multiple sources (Reuters, monitoring groups). The US-Iran-Israel conflict remains stable: Trump stated he is in 'no hurry' for a deal, Israel expanded its Lebanon invasion capturing a strategic castle, and Iran shot down a US drone. No counter-signals or de-escalation emerged. The situation is STABLE with no new actionable information for markets beyond the ongoing bullish oil thesis and bearish risk sentiment.