WS #12495

The US-Iran conflict continues to escalate with Houthis announcing a maritime blockade on Saudi Arabia, corroborated by Al Jazeera and multiple sources. Iran's president declared a 'full-scale war' after expanded US attacks, and the US has intensified airstrikes following soldier deaths. Oil prices remain elevated (WTI ~$82.76, Brent ~$88.92). A counter-signal emerges: Yemen's Saudi-backed presidential council says it will work on resuming oil exports starting Monday, which could partially offset supply disruption fears. Separately, a US judge has paused Paramount's $110bn Warner Bros acquisition, sending Paramount Skydance stock to 52-week lows. AI infrastructure spending remains robust with IREN raising AI Cloud ARR target to $4B, Prysmian signing $6.3B optical cable deal, and BlackRock selling $12B in bonds for AI data center. BofA expects META to beat Q2 estimates. Bitcoin crossed $65,000 on CLARITY Act progress. UK cabinet reshuffles continue with Yvette Cooper as Health Secretary and Ed Miliband as Foreign Secretary. The US-Iran conflict is ESCALATING, while AI infrastructure narrative is STABLE with positive signals.