WS #9550

The US-Iran conflict continues to escalate sharply, with President Trump vowing to launch 'very hard' new strikes on Iran within hours and seize Kharg Island and other oil infrastructure. Multiple sources (Al-Monitor, CNBC, FT, AP, CBS, Bloomberg) corroborate the threat, which includes taking 'total control' of Iran's oil and gas markets. Iran has reportedly closed the Strait of Hormuz, and Hormuz oil sneakouts have risen 50% as both sides vie for control. Three Indian sailors were killed in a US strike on an oil tanker. A tentative de-escalation signal emerged: UAE and Iran are meeting face-to-face to try to de-escalate tensions, per Bloomberg. Separately, Oracle (ORCL) slumped nearly 13% after announcing plans to raise $40B to fund its AI buildout, raising concerns about margin pressure and dilution. The ECB released mild inflation scenarios (2026 at 2.9%, 2027 at 1.8%), suggesting a dovish tilt. US stocks opened higher on a tech rebound, with the Dow up over 250 points, as traders assessed Middle East developments and PPI data. OPEC lowered its 2026 global oil demand growth forecast to 970,000 bpd. The dominant theme is ESCALATING, with a tentative counter-signal from UAE-Iran talks.