WS #12742

The dominant signal in this window is the escalation of the Iran conflict on a new front: Houthi attacks on Saudi oil facilities. Multiple sources (France24, Straitstimes, GDELT) corroborate that Yemen's Houthis struck Saudi Aramco sites in Jizan and Yanbu, marking a new front in the Middle East war. This is a significant escalation that threatens oil supply and could push crude prices higher. Meanwhile, the US pause in strikes on Iran (reported by Moon of Alabama) may signal a temporary de-escalation or negotiation, but the Houthi attack counters that narrative. Additionally, Lockheed Martin and RTX raised 2026 forecasts due to Pentagon weapons stockpile replenishment, with shares up 10.6% and 7.7% respectively, signaling continued defense sector strength. Tesla's 18% weekly decline is a notable MAG7 carve-out, contradicting any broader tech rally narrative. Other items like the Berlin Pride attack, Ukraine drone strikes on Siberian refinery, and Kazakhstan's president urging Putin to end the war are secondary but add to geopolitical risk.