WS #9492

The US-Iran conflict is ESCALATING sharply. Multiple sources (Al Jazeera, CBS, Bloomberg, and numerous social media posts) confirm that the ceasefire has collapsed, with Trump threatening further strikes on Iran after an Iranian drone downed a US Apache helicopter. Iran's Foreign Ministry says it will 'not hesitate' to defend itself. Trump also claimed over 200 commercial vessels have safely transited the Strait of Hormuz under escort, moving over 100 million barrels of oil, but a separate post notes daily ship transits collapsed from ~100 to 4.7, with oil above $100 and SPY down 9.1%. This contradiction suggests the situation remains highly volatile and the escort operations may not be fully effective. The energy crisis narrative is intensifying, with oil prices likely to remain elevated and risk assets under pressure. Separately, Trump signed a $70 billion immigration enforcement bill, and there are reports of a major fire in Tehran, which could have further geopolitical implications. On the corporate front, Oracle was awarded a US government contract for HR software, and Visa announced a partnership with OpenAI for agentic commerce. Devon Energy surged after an updated outlook post-Coterra deal. The dominant theme is the escalating US-Iran conflict, which is bearish for equities and bullish for oil and energy stocks.