WS #5817

The US-Iran conflict remains the dominant market driver, with the Strait of Hormuz blockade continuing to push oil prices higher. Brent crude rose 0.53% to $105.63, and WTI gained 0.34% to $96.18, as geopolitical tensions persist. Trump claims 78% of US objectives in Iran have been achieved and that he is 'sitting with folded arms' waiting for a deal, while a third US aircraft carrier is reportedly heading toward Iran. The Pentagon is considering punitive measures against NATO allies that did not support US operations, including potential suspension of Spain and reviewing US stance on British sovereignty over the Falkland Islands. This escalation is bearish for equities and bullish for energy. Separately, Palantir Technologies (PLTR) has shed $73 billion in market value over a six-session slide, offering a rare boost to short sellers. European markets are expected to open lower, with futures indicating declines of 0.24-0.77% across major indices. Gold prices fell 3.5% this week, breaking a four-week rally, as the dollar strengthened. The ceasefire between Israel and Lebanon was extended by three weeks, but this provides little relief given the broader Iran tensions.