WS #12616

The US-Iran conflict is escalating sharply, with multiple new developments in the last hour. Iran claims to have mobilized over 1 million fighters and warns of 'historic hell' for US troops, while air raid sirens sounded in Bahrain after an Iranian attack. Satellite imagery confirms Iranian forces destroyed a US radar at Ahmed Al-Jaber Air Base in Kuwait. Oil prices surged past $95/barrel (Brent +4.4%) as the Strait of Hormuz disruption and CPC pipeline halt compound supply fears. Equinor's CFO stated Europe won't hit gas storage targets even if Hormuz reopens. The US defense secretary revealed the war has cost $37.5bn so far, requesting $88bn in supplemental funding. Separately, Trump announced 200% tariffs on imported generic drugs, threatening Indian pharma exports. The yen hit a 40-year low at 163.24, prompting Japan to warn of decisive action. In earnings, Super Micro Computer jumped 16.6% premarket on preliminary Q4 results, while Philip Morris beat estimates but gave soft guidance. Alphabet and Tesla report today, with Tesla facing robotaxi guidance concerns and Alphabet's Gemini delays weighing. The dominant theme is ESCALATING across Iran conflict, oil supply, and trade policy.