WS #13279

The dominant theme remains the US-Iran conflict and its impact on oil markets, with a notable escalation in the diplomatic narrative. Iran's foreign minister confirmed that negotiations with Oman over the Strait of Hormuz are in 'final stages,' while Iran officially rejected Trump's claim of a deal to reopen the strait, calling it a 'complete lie' and a 'desperate attempt to manipulate the market.' This cross-source corroboration (multiple outlets including GDELT, Express News, and Bluesky) signals continued uncertainty over Hormuz, keeping oil prices elevated and supporting energy stocks while pressuring shipping and airlines. Separately, Ukrainian drone strikes on Russian oil infrastructure (Saratov refinery, Engels airbase) and a Wildberries warehouse add a second geopolitical risk layer, potentially supporting oil prices further. On the corporate front, AstraZeneca-BMS merger talks continue to be reported (investing.com, Seeking Alpha), and Google pulled an AI feature after users created fake satellite images, a minor negative for GOOGL. The overall narrative arc is STABLE with diplomatic de-escalation attempts, but Iran's denial of a deal counters any bullish oil-supply relief narrative.