WS #12461

The US-Iran conflict continues to escalate with new reports of Iranian attacks on US bases in Jordan causing casualties, and US gas prices topping $4/gallon. The Pentagon confirmed injuries from Iranian strikes on US bases in Jordan, corroborated by multiple sources. Ukraine intensified its campaign against Russian oil infrastructure, striking the CPC oil terminal in the Black Sea and damaging two tankers, suspending oil loadings. This adds to supply disruption fears. China's June youth unemployment data showed 16-24 year old jobless rate at 14.9%, indicating persistent economic weakness. On the positive side, Boeing secured a 100-plane 737 MAX order from SMBC Aviation Capital, and the FAA reiterated that certification of the 737 MAX 7 and 10 is expected soon. TSMC's Arizona expansion was highlighted with a raised commitment to $265B, signaling strong AI demand. The dominant theme is ESCALATING geopolitical risk with oil supply disruptions, while Boeing and TSMC provide company-specific positives.