WS #9868

The dominant theme remains the US-Iran peace deal, now in an ESCALATING phase with concrete execution details. Trump stated the Strait of Hormuz will be 'completely open' by Friday, and the first LNG tanker has cleared the strait, sending WTI crude down ~5.7% to $80.08. However, the US Strategic Petroleum Reserve has fallen to a 43-year low (340.3 million barrels), raising questions about the sustainability of the administration's ability to tame gas prices. The G7 summit in Évian is underway with Iran diplomacy and energy security on the agenda. Separately, the Fox-Roku M&A deal is confirmed by Hacker News and multiple sources, marking a high-significance consolidation event in streaming. SpaceX IPO continues to generate buzz, with shares extending gains to 12% on day two and retail investors buying $117 million on day one. A Bloomberg headline 'Something Big Just Changed in the US Economy' and CMS proposing to make Medicare drug price negotiation permanent are macro signals weighing on pharma stocks. The narrative arc is: US-Iran deal ESCALATING (from framework to signed MoU with first tanker transit and Trump's Friday deadline), Fox-Roku M&A as a new high-significance development, and SpaceX IPO as a positive sentiment driver. Counter-signal: The SPR depletion to 43-year low dampens the bullish energy crisis resolution narrative, suggesting limited capacity for further strategic releases.