WS #12763

The dominant theme in this window is a significant escalation in the Middle East energy crisis, with a tanker explosion in the Strait of Hormuz after hitting a naval mine, confirming that the waterway remains effectively contested despite a US-Iran pause in strikes. Iran's foreign minister has accused Ukraine of attacking an Iranian commercial vessel, killing a sailor, and vowed retaliation, adding a new geopolitical dimension. Houthi attacks on Saudi oil infrastructure are actively disrupting supply, and oil prices are surging. The US-Iran pause is fragile, and the energy supply crisis is escalating. Separately, the upcoming Fed rate decision and Big Tech earnings (AAPL, MSFT, AMZN, META) are key macro events, with oil-driven inflation concerns potentially influencing the Fed's hawkish stance. The tanker explosion and Iran's threat against Ukraine are new developments that could further destabilize energy markets and geopolitical risk.