WS #14284

The dominant theme remains the escalating US-Iran conflict, with the 60-day ceasefire expiring on August 17 and no deal in sight. Iran has shifted to a 'fully offensive' military posture, threatening to break the US naval blockade, while President Trump has floated declaring the Strait of Hormuz a US 'territory' and threatened to bomb Oman. This has driven oil prices sharply higher (Brent ~$91, WTI ~$84.5, Murban +6.7%), with European gas prices surging for a fourth straight session. The escalation is corroborated by multiple sources (Reuters, WSJ, Kan News, GDELT) and is pressuring equities (S&P 500 -0.5%, Dow -0.5%) while boosting energy names (XOM, CVX, XLE) and hurting airlines (DAL, UAL). The situation is ESCALATING, with no counter-signals in this window.