WS #5772
The Iran-US conflict continues to escalate, with oil prices surging on reports that Iran's top negotiator has resigned, raising fears of a harder Iranian line. Brent crude topped $104/barrel, up 3%, while WTI rose to $95.95. Trump warned time is running out for a deal and described the blockade as 'tight and strong.' The IEA chief previously warned 13 million barrels/day are at risk. Separately, Texas Instruments surged 18% on strong AI-driven demand, while Palantir dropped 8% amid risk-off rotation. OpenAI released GPT-5.5, and Spirit Airlines faces potential collapse due to fuel costs, seeking a bailout. Mortgage rates fell to 6.23%, providing some relief to housing.
Key developments
- Brent oil tops $104 on report Iran's top negotiator resigns, Strait of Hormuz tensions escalate
- Texas Instruments surges 18% on AI-driven demand, best day since 2000
- Spirit Airlines faces collapse due to fuel costs, seeks federal bailout
- OpenAI releases GPT-5.5, advancing toward 'superapp'
- Trump warns time running out for Iran deal, describes blockade as 'tight and strong'
- Average US 30-year mortgage rate drops to 6.23%, third weekly decline