WS #13479

The dominant narrative remains the potential reopening of the Strait of Hormuz, with Iran and Oman reportedly agreeing on geographic coordinates for a safe shipping route and finalizing a joint statement, contingent on no third-party interference. This is corroborated by multiple sources (NYT, GDELT, Al Jazeera, and various international outlets), with Iran stating the route could be in effect for 2-4 months. However, the deal would give Iran control over inbound traffic, and Iran's foreign ministry warns that US naval blockade and other actions still make the strait unsafe. US crude fell 6% on hopes of a deal, while WTI is around $74.88 and Brent $79.00, with European gas TTF down 4.65% to €53.32. This is a high-significance geopolitical development with direct implications for oil prices, energy stocks, and shipping. The narrative is ESCALATING in terms of deal proximity but with significant uncertainty and potential for Iran to gain leverage. Separately, China has retaliated against US tariffs by blacklisting six US firms and tightening drone export controls, which could impact tech and defense supply chains. Additionally, Apple has filed a preliminary injunction against OpenAI for alleged trade secret theft, with OpenAI calling the motion 'aggressive and personal' - this is a MAG7 carve-out signal that could affect AAPL and related AI sentiment. Also, Jeff Dean's departure from Google to start Discovery Loop is confirmed, with GOOGL down 4%, and reports of a $1.5B deal with AI startup Mechanize. SpaceX's first earnings showed 92% revenue growth but heavy capex and net loss, with shares sliding. Other notable signals include New Jersey suing Amazon on antitrust grounds, and the US refunding $100B in tariffs.