WS #6493

The US-Iran confrontation in the Strait of Hormuz is ESCALATING further, with Iran claiming missile strikes on a US warship and the Pentagon denying any ship was struck. Oil prices surged, with Brent exceeding $126/barrel, before paring gains after Washington denied the strike claim. The US launched 'Project Freedom' to guide trapped ships, while Iran warned it would attack any foreign armed forces entering the Strait. The UAE announced its withdrawal from OPEC, a significant shift in energy policy. Separately, Amazon launched a new supply chain service, sending FedEx and UPS shares lower. Anthropic confirmed a deal to launch an enterprise AI services business. The Pentagon released a $400 million military aid package for Ukraine. Powell signaled inflation may persist for two more quarters, keeping rate cuts on hold. Key developments include: GameStop reportedly offered to buy eBay for $56 billion, causing GME to drop 5% and EBAY to fade the pop. OpenAI secured $4 billion for a new joint venture with TPG, Bain, and SoftBank. The US House approved a 3-year extension of FISA Section 702. France's economy reported zero growth in Q1 2026 due to the Iran war. Japan's 10-year bond yield rose to 2.52%, the highest since 1997. The EU proposed granting 4 billion more free emission permits. The Trump administration stalled 165 onshore wind projects citing national security. The US Treasury Secretary urged China to step up diplomacy on Iran and support opening the Strait of Hormuz. The White House sees itself not bound by the War Powers Resolution, claiming the 60-day clock has stopped due to a ceasefire.