WS #9531

The US-Iran conflict continues to escalate, with multiple sources confirming new US airstrikes on Iran for a second consecutive day and Iran retaliating with missile strikes on Al-Azraq Air Base in Jordan. The Strait of Hormuz is effectively closed, with data showing a 91% drop in transits since March, cutting off ~12M bpd of oil. This is corroborated by Bloomberg, Al Jazeera, The Guardian, and multiple Bluesky posts. The ECB is set for its first rate hike since 2023 as prices soar, a significant macro development. Separately, SpaceX IPO is in focus with Jim Chanos slamming the valuation and European funds split on buying due to governance concerns. Bitcoin is trading near deep bear-market valuation zones, with the Crypto Fear and Greed Index at 9. The Iran war is tightening a 'super-squeeze' in metals markets, affecting copper and aluminium. KKR launched a $10BN data centre group led by former AWS chief, a positive for data center and AI infrastructure plays. The dominant theme is the US-Iran conflict ESCALATING, with the Strait of Hormuz closure deepening the energy crisis. The ECB rate hike signal adds a hawkish macro layer. SpaceX IPO and Bitcoin bearish signals are secondary but notable.