WS #10622

The dominant signal in this window is the confirmation that the Strait of Hormuz is effectively open again, with Energy Secretary Chris Wright stating 19 million barrels of oil passed through in the past 24 hours and that Iran's ability to close the strait has been ended. This is a major de-escalation of the oil supply crisis, directly countering the previous bearish oil narrative. WTI and Brent are both down over 3% in the data, reflecting this. Separately, Qualcomm announced a new AI data center CPU (Dragonfly C1000) with Meta as its first customer, a significant development for the AI infrastructure trade. Bitcoin has fallen back below $60,000 to its lowest since October 2024, with the crypto sell-off continuing. Meta is also reportedly planning an AI-powered prediction market app, which could disrupt Kalshi and Polymarket. The Google Gemini 3.5 Pro model release has been delayed to July, adding to negative Google headlines.