WS #9272
The Israel-Iran conflict continues to escalate with multiple waves of ballistic missile attacks from Iran toward Israel, including impacts near Jerusalem and Haifa. Israel has conducted retaliatory airstrikes, hitting a petrochemical plant in Iran. The US has urged restraint, with Trump reportedly calling Netanyahu to advise against retaliation, but Israel has struck again. Iran's IRGC warns of more crushing responses. Oil prices are rising, with Brent crude up 3.7% to $96.60, and Fitch expects prices to average $87 if the Strait of Hormuz reopens by end-July. The Fed rate hike narrative is reinforced by strong jobs data and oil-driven inflation fears. Nvidia signed AI deals with SK Group and South Korean tech firms, a positive signal for the AI sector. The narrative is clearly ESCALATING with no de-escalation signals.
Key developments
- Iran launches multiple ballistic missiles at Israel; Israel retaliates with airstrikes on Iranian petrochemical plant
- Brent crude rises 3.7% to $96.60 on Israel-Iran strikes; Fitch sees $87 average if Strait reopens by end-July
- Nvidia signs AI deals with SK Group and South Korean tech firms