WS #9493

The US-Iran conflict continues to escalate sharply, with multiple sources (Al Jazeera, CBS, Bloomberg, social media) confirming fresh overnight strikes and the downing of a US Apache helicopter by an Iranian drone. Trump has threatened further attacks, and Iran's Foreign Ministry says it will 'not hesitate' to defend itself. The Strait of Hormuz crisis deepens: oilprice.com shows WTI at $90.80 (+2.95%) and Brent at $93.82 (+2.59%), while a CNN report notes only ~2.9 million barrels per day transited in May, with some vessels paying tolls to Iran. Trump claims a 'secret mission' moved over 100 million barrels, but this is contradicted by the collapse in daily ship transits. The narrative is ESCALATING, with no de-escalation signals in this window. Separately, SpaceX's IPO is drawing billions in orders from Gulf wealth funds (Bloomberg, multiple sources), and Oracle was awarded a $400M US government HR contract. A dark pool alert shows a $503M block trade in META, suggesting institutional accumulation. GM may ditch LFP batteries for EVs (Reuters), which is bearish for GM and LFP battery suppliers. The DOJ has subpoenaed major banks over 'debanking' (WSJ). The dominant theme remains the escalating US-Iran conflict, which is bearish for equities and bullish for oil and energy stocks.