WS #14289
The dominant market driver remains the US-Iran conflict, which is ESCALATING. The MOU expired Monday with President Trump rejecting an extension, and Iran shifting to a 'fully offensive' posture. Brent crude has crossed above $90/bbl, WTI settled at $84.68 (+2.8%), and the 30-year Treasury yield hit 5.31%, the highest since June 2007. US equities closed lower (S&P 500 -0.52%, Dow -0.51%, Nasdaq -0.32%) as higher oil and yields pressured risk assets, with energy the only S&P sector in the green (+0.87%). Cross-source corroboration from Bloomberg, CNBC, Xinhua, and GDELT confirms the market impact. The situation is ESCALATING, with Trump threatening to bomb Oman and Iran's secret plan including strikes on undersea cables and a ground raid into Kuwait, per WSJ. Strait of Hormuz crossings fell to 95 last week from 118 the prior week, with only 3 crossings on Sunday, down from ~130-140 daily pre-war. This supply disruption is the key driver of the oil spike and inflation fears.
Topics
Key developments
- US-Iran MOU expires, Trump rejects extension, Iran goes offensive; Brent tops $90
- Strait of Hormuz crossings fall to 95/week, lowest since war began
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