WS #12612

The US-Iran conflict continues to escalate with a new ballistic missile attack on a US air base in Jordan, killing three American servicemembers, and reports of Iranian missiles striking Jordan. Oil prices jumped 4% as Rubio says Iran 'not serious' about peace talks, with Brent crude rising to ~$94.30 and WTI above $86. The UK approved use of British military bases by the US for defensive strikes against Iran. Strait of Hormuz traffic is collapsing again, with daily transits falling to just 10 ships. Separately, Super Micro Computer (SMCI) reported a record backlog of $60B+ in orders and expects $11-12.5B in Q4 revenue, sending shares up over 15% premarket. Alphabet earnings are due, with focus on cloud growth as AI spending soars. The EU is set to issue formal charges under subsidy rules to JD.com over its $2.5B bid for Ceconomy. UK inflation fell to 2.6% in June, below expectations, providing some relief for the new government. The dominant theme is the US-Iran conflict, which is ESCALATING, with oil prices rising and diplomatic channels appearing stalled.