WS #12496

The US-Iran conflict continues to escalate with Iran launching ballistic missiles at Jordan and Houthis declaring a maritime blockade on Saudi Arabia, corroborated by multiple sources including Al Jazeera and Washington Post. 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. Micron is spiking on UBS projection of >40% share repurchase by 2028. The US-Iran conflict is ESCALATING, while AI infrastructure narrative is STABLE with positive signals.