WS #10353

The dominant signal in this window is the breakdown of US-Iran talks at the Bürgenstock summit, with multiple independent sources confirming that the Iranian delegation walked out after 80 minutes in protest of Trump's threats. This represents an escalation of the prior narrative, which was already bearish for oil supply. The walkout increases the probability of Strait of Hormuz disruption and further oil price spikes. Separately, UK political uncertainty is rising as Starmer considers resignation, with multiple sources reporting he may set a departure timetable. This is a medium-significance political development with limited direct US market impact. The Iran walkout is the highest-significance event, with cross-source corroboration from Al Jazeera, BBC, Seeking Alpha, and multiple social media accounts. The narrative arc is ESCALATING for US-Iran tensions.