WS #5131

The dominant signal remains a significant de-escalation of the Iran conflict narrative, with no new material developments to alter this assessment. Multiple high-significance sources, including Bloomberg, CNBC, and GDELT, continue to report that oil prices are steadying on signs the U.S. and Iran are working toward a ceasefire extension, corroborated by reports of China agreeing not to send weapons to Iran and past-tense spikes in oil and diesel prices. This collective signal strongly counters the previous bearish macro and index thesis, shifting the narrative toward potential peace and reduced energy price pressure. No new information has emerged to contradict this de-escalation or introduce fresh market-moving events in the last 10 minutes.